Gascoyne Resources’ Gilbey’s North discovery, located immediately north of the operating Gilbey’s pit in the Dalgaranga Gold Project, continues to grow with exceptional new results from deep follow-up drill-holes.
Gascoyne managing director and chief executive officer Simon Lawson said the breakthrough result – topped by 54 metres at 6.55 grams per tonne from 116m down-hole – significantly elevated the importance of the near-mine find.
“The latest drill-hole has returned a composite intercept of six times our current head-grade at Dalgaranga over a 54m interval — a truly impressive result coming from a growing area of shallow high-grade mineralisation located within 1000m of our 2.5 million tonnes per annum processing plant.
“Our geology and mining teams are working closely with external consultants to deliver an initial mineral resource estimate (MRE) for Gilbey’s North, as well as to provide models for pit optimisation scenarios and potential mine schedules.
“In light of recent industry-wide delays in assay turnaround times, we are revising the timing of the initial MRE for Gilbey’s North towards the end of July 2022.
“I am very much looking forward to renaming the Gilbey’s North prospect as a deposit with the release of the impending MRE. I am also confident that the shallow high-grade gold we have discovered across the area just to the north of the operating Gilbey’s open pit represents a significant milestone for the Dalgaranga Gold Project.”
Follow-up drilling continues at Gilbey’s North with two reverse circulation rigs operating, with a third RC rig in action at Plymouth and Gilbey’s South.