Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Gascoyne Resources Ltd    GCY   AU000000GCY6

SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Gascoyne Resources : Multiple New Gold Zones Discovered in Regional Exploration Drilling at Dalgaranga , 826 KB

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/08/2016 | 12:25am CET

837df950-9ff4-4926-b2b8-e45895955200.pdf


February 8th, 2016

Australian Securities Exchange Limited Via Electronic Lodgement

57 139 522 900


MULTIPLE NEW GOLD ZONES DISCOVERED IN REGIONAL EXPLORATION DRILLING AT DALGARANGA
  • Significant new gold zones intersected at the Beefeater, Vickers and Gilbeys North prospects.
  • Significant shallow gold intersections from wide spaced regional Aircore drilling include;
    • 8m @ 3.6 g/t gold from 24m
    • 13m @ 0.9 g/t gold from 16m to the end of hole (EOH)
    • 4m @ 1.4 g/t gold from 12m
  • Drilling again demonstrates the significant potential for resource growth at the Dalgaranga Project from new discoveries.
  • Planning underway for follow-up drilling of the Hendricks gold discovery announced in January
  • Golden Wings updated Mineral Resource estimate expected this month
  • The Dalgaranga Pre-Feasibility Study is continuing on schedule for completion in Q1 2016.

Gascoyne Resources Limited ("Gascoyne" or "Company") is pleased to advise that it has received the final assay results from the 10,000 metre aircore exploration drilling programme completed in December last year at the Company's 80% owned Dalgaranga Gold Project in the Murchison region of Western Australia. The Dalgaranga Gold Project contains a recently upgraded (ASX announcement November 4th, 2015) Measured, Indicated and Inferred Resource of 23.0Mt @ 1.4 g/t gold for 1.02 million ounces of contained gold (see Figure 1).


As announced to the ASX on 14th of January 2016 ("Hendricks gold discovery") the aircore drilling programme was designed to test multiple high priority targets in the vicinity of the 1Moz Resource base at Dalgaranga which have the potential, with further exploration, to lead to additional discoveries and future Mineral Resource growth at Dalgaranga. The discovery of the Hendicks prospect last month, and now these additional significant new gold zones intersected at the Beefeater, Vickers and Gilbeys North prospects gives fruther credence to our belief that the Dalgaranga Project has significant potential to grow with further drilling.


Gilbeys North

Drilling targeted shallow mineralisation areas northeast of the Gilbeys deposit; best intersection returned was 8m @ 3.6 g/t gold from 24m in DGAC384 which lies more than 500m along strike from the northern limit of the current Gilbeys resource (see Figure 2). The area has only been partly tested and further follow up is planned to evaluate this mineralisation.


Beefeater

The drilling was focussed on testing a poorly tested 1km long east west trending RAB anomaly from historical drilling. The anomaly lies 1.5km south of the Golden Wings deposit and 2.5km north-east of the Gilbeys deposit (see Figure 2). Six north-south orientated aircore lines have been completed at 100 to 200m line spacings; of most significance is the intersection of a shallow interval of 13m @ 0.9 g/t gold from 16m to the EOH in DGAC323 including 4m @ 1.6 g/t gold from 16m. One hundred metres to the east aircore hole DGAC328 intersected 4m @ 0.4 g/t gold from 20m to the EOH confirming a bedrock anomaly trending east - west in very shallow drilling that remains untested to the east and west.


Vickers

Aircore drilling targeted untested areas west and north of the historic Vickers prospect. Drilling was completed on 3 north- south orientated lines with a number of anomalous gold zones intersected including 4m @ 1.4g/t gold from 12m in

P.O. Box 1449, West Perth, Western Australia 6872 Rust House, Level 2, 33 Ord Street, West Perth, Western Australia 6005 Telephone +61 8 9481 3434, Facsimile +61 8 9481 0411

Email: admin@gascoyneresources.com.au, Web: www.gascoyneresources.com.au

DGAC357, 8m @ 0.7g/t gold from 60m to EOH in DGAC358 and 12m @ 0.5g/t gold from 48m in DGAC378. These promising intersections confirm an east west trend which is untested to the east (see Figure 2)


Follow up drilling

Planning is well advanced to follow up the Hendricks gold discovery and the wide spaced intersection reported above. The followup drilling will be a combination of aircore and RC to test the mineralisation at depth and along strike. Programme of works (POW's) have been submitted to and approved by the Department of Mines and Petroleum for the planned drilling which is expected to commence in March


Pre-Feasibility Study Golden wings Resource Upgrade

The Dalgaranga Pre-Feasibility Study (PFS) is on schedule for completion in the current quarter. The Golden Wings Resource update is due to be completed this month, and when completed it will be incorporated into the PFS.


The PFS is investgating the establishment of a 2.5Mtpa processing plant on site, which recent pit optimisation studies suggest will result in production of approximately 100,000ozpa for 6-7 years (see ASX Announcement 19th January 2016).


Gascoyne's Managing Director, Michael Dunbar commented:

"The first regional exploration completed at the project for around 20 years has been a great success, confirming the potential of the region, with the discovery of the Hendricks mineralised shear, identification of a bedrock east west mineralised trend at Beafeater and significant mineralisation intersected at Gilbeys North and Vickers.


This exploration along with the recent RC drilling at Golden Wings and the ongoing Pre-Feasibility study support the Company's belief that Dalgaranga project is one of the best undeveloped gold projects in the Murchison."

For further information please refer to the Company's website or contact the Company directly. On behalf of the board of

Gascoyne Resources Limited


Michael Dunbar Managing Director



Figure One: Gascoyne Resources Project Locations in the Gascoyne and Murchison Regions


Figure Two: Dalgaranga Project Aeromagnetic Image with Deposit and Prospect Locations, Highlighting the Hendricks Discovery and Recent Significant Regional Aircore Drill Intersections

Gascoyne Resources Ltd. issued this content on 08 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 February 2016 23:24:37 UTC

Original Document: http://www.gascoyneresources.com.au/assets/Uploads/160208-New-Gold-Zones-Discovered-in-Regional-Exploration-at-Dalgaranga.pdf

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GASCOYNE RESOURCES LTD
02/24 GASCOYNE RESOURCES : Cleansing Notice, 155 KB
02/24 GASCOYNE RESOURCES : Appendix 3B Placement Tranche 1, 160 KB
02/24 GASCOYNE RESOURCES : Placement Settlement of Tranche 1, 125 KB
02/22 GASCOYNE RESOURCES LIMITED : - Share Purchase Plan, Cleansing Notice
02/22 GASCOYNE RESOURCES : Share Purchase Plan - Offer Documents, 262 KB
02/20 GASCOYNE RESOURCES LIMITED : - $55 Million Capital Raising for Development of Da..
02/20 GASCOYNE RESOURCES : Postponement of General Meeting, 319 KB
02/20 GASCOYNE RESOURCES : Placement and SPP, 180 KB
02/17 GASCOYNE RESOURCES : to Raise USD38.52 Million in Private Placement of Shares
02/17 GASCOYNE RESOURCES : $55 Million Capital Raising for Development of Dalgaranga, ..
More news
Sector news : Gold Mining
02/22DJNEWMONT MINING : Swings to Annual Loss on Yanacocha Charges
02/16 AGNICO EAGLE MINES : to invest $1.2 billion in Arctic gold mines
02/15 GOLDCORP : Canadian gold miner Goldcorp profit beats market forecast
02/15 SOROS LIQUIDATED BARRICK GOLD SHARES : filing
02/14 BARRICK GOLD : Acacia Mining sees 2017 as 'critical year' for new projects
More sector news : Gold Mining
Advertisement
Financials ( AUD)
Sales 2017 -
EBIT 2017 -7,00 M
Net income 2017 -10,0 M
Finance 2017 4,00 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0
EV / Sales 2018 1,91x
Capitalization 146 M
More Financials
Chart GASCOYNE RESOURCES LTD
Duration : Period :
Gascoyne Resources Ltd Technical Analysis Chart | GCY | AU000000GCY6 | 4-Traders
Full-screen chart
Technical analysis trends GASCOYNE RESOURCE...
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 1,00  AUD
Spread / Average Target 83%
Consensus details
Managers
NameTitle
Michael Dunbar Managing Director & Director
Rodney Michael Joyce Non-Executive Chairman
David J. Lim Chief Financial Officer & Joint Secretary
Graham Douglas Riley Non-Executive Director
Gordon John Dunbar Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GASCOYNE RESOURCES LTD12.37%112
BARRICK GOLD CORP.18.69%22 786
NEWMONT MINING CORP5.25%19 164
NEWCREST MINING LIMITE..16.20%13 926
SAUDI ARABIAN MINING C..--.--%12 589
AGNICO EAGLE MINES LTD5.43%10 225
More Results