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Greenstone Resources intercepts one of the best gold hits of the year

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By Robin Bromby - 
Greenstone Resources ASX GSR gold Burbanks Gold Project

Greenstone Resources managing director Chris Hansen says the 1m at 375g/t gold interval highlights the potential to “significantly” increase resources at Burbanks.

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It might have been only over 1m, but an assay of 375 grams per tonne gold from the Burbanks project has placed Greenstone Resources (ASX: GSR) at spot No 10 for best gold intercepts in 2022 from a Western Australian pre-development project.

Phase one drilling at its Burbanks project in WA returned that 1m at 375g/t gold interval within an also impressive 7m at 57.84g/t gold from 90m.

Two other holes unearthed 3m at 4.18g/t gold from 17m, including 1m at 10g/t gold from 19m, and 2m at 5.88g/t gold from 38m.

Greenstone managing director and chief executive officer Chris Hansen said the company is “highly encouraged” by the initial results from this new drilling program.

“These most recent intercepts serve to highlight the potential to increase significantly the resource base at Burbanks over the coming months,” he added.

In good company

That 375g/t interval means that Greenstone is now in good company after reaching the top 10 intercepts for 2022 so-far.

Musgrave Minerals (ASX: MGV) alone has had three intercepts that made the top 10 for 2022, with all coming from its Moyagee project.

The list is:

  1. Genesis Minerals (ASX: GMD) with 1,049g/t gold at Kookynie;
  2. Musgrave Minerals with 1,040g/t at Moyagee;
  3. Astral Resources (ASX: AAR) with 595g/t at Mandilla;
  4. Odyssey Gold (ASX: ODY) with 525g/t at Tuckanarra;
  5. Panther Metals (ASX: PNT) with 478g/t at Merolia;
  6. Astral Resources with 464g/t at Mandilla;
  7. Musgrave Minerals with 400g/t at Moyagee;
  8. Genesis Minerals with 383g/t at Kookynie;
  9. Musgrave Minerals with 381g/t at Moyagee; and
  10. Greenstone Minerals with 375g/t at Burbanks.

Targeting up to 330,000oz of gold with drilling

Burbanks is situated 9km south of Coolgardie within the Coolgardie goldfield and there is access to grid power, sealed roads and several toll treatment plants.

Greenstone, with its current 10,000m drill program, is targeting between 215,000oz and 330,000oz of contained gold.

The Burbanks mining centre includes both the Birthday Gift and Main Lode underground deposits which between them produced an historical 324,479oz at an average grade of 22.7g/t.

Other areas to be drilled

Mr Hansen noted the broader strike and depth extensions remain open in all directions and are not included in the existing resource or exploration target.

While not drilled, Mr Hansen says these extensions provide an “excellent” exploration target as they represent the continuation of the main mineralising structure.

The company plans to drill these extensions as part of its phase two and phase three exploration programs.