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Gascoyne hits ultra-high gold grades at Dalgaranga

Visible coarse gold panned from the high-grade zone.

Visible coarse gold panned from the high-grade zone.

19th September 2018

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Drilling at the Tanqueray prospect of the Dalgaranga gold project, near Mount Magnet, Western Australia, has intersected ultra-high gold mineralisation, Gascoyne Resources announced on Wednesday, sending its stock up 18%.

Drilling intersected 373.5 g/t gold (12 oz/t) from 53 m, including 3 m at 987 g/t (31.7 oz/t) from 53 m.

“This intersection is by far the highest gold grades ever identified at Dalgaranga and highlights the potential for a completely different style of mineralisation to the known 1.3-million-ounce resource, which is currently being mined only 1.8 km to the south of Tanqueray,” said MD Mike Dunbar.

The Tanqueray prospect is located about 1.8 km north-west of the Dalgaranga processing plant. Follow-up drilling is planned.

Gascoyne jumped to A$0.32 a share on Wednesday, from the previous day’s closing price of A$0.28 a share.

Edited by Creamer Media Reporter

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