Gascoyne Resources Ltd (ASX:GCY) has struck high-grade and visible gold mineralisation at its Never Never deposit within the Dalgaranga Gold Project in Western Australia, intersecting a more than 40 metre-wide zone in drill-hole DGDH032, its strongest so far.
DGDH032 was designed to intersect the projected down-plunge extension of the Never Never deposit between 400-500 metres downhole with a total length of 600 metres.
The mineralised zone intersected between 390 metres and 431 metres comprised:
- a variably silicified and altered zone in intermediate rocks from 390 metres to 397.5 metres;
- a strongly silicified zone with intense sericite alteration, and minor pyrrhotite/pyrite and trace chalcopyrite and arsenopyrite sulphides throughout 397.5 metres to 415.5 metres, with various amounts of coarse visible gold noted at 397.5 metres, 398.5 metres, 406.3 metres and 406.9 metres downhole; and
- a mineralised shale unit with minor pyrrhotite/pyrite and colloidal quartz veining throughout 415.5 metres to 431 metres.
Abundant visible gold from 397.5 metres downhole.
High-grade gold system
Gascoyne Resources managing director Simon Lawson said: “This exceptional drill hole highlights the huge potential to continue growing the resource at Never Never.
“We are now looking at the mineralised footprint of Never Never extending from surface to over 380 metres vertical depth, a down-plunge length of over 500 metres and potentially double the depth of the recent resource.
“In short, this is a high-grade gold system which extends from surface for over half a kilometre and remains wide open at depth. It is a rapidly expanding high-grade discovery which sits in the shadow of our infrastructure less than one kilometre from our 2.5 million tonnes per process plant.”
The drill core displays the typical silica flooded textures and chlorite/sericite/biotite/carbonate alteration seen in all previous Never Never deposit intercepts.
Depth potentially doubled
The 40 metre-wide diamond core intersection is 130 metres below the previous deepest visible gold intercept seen in DGDH031, of which assays are pending, and more than 180 metres further down-plunge of the recently-released 79,600 ounces initial mineral resource estimate (MRE).
Sampling and analyses of the mineralised intercept in DGDH032 will be fast-tracked to be included in an updated Never Never MRE scheduled for the December 2022 quarter.
Never Never is a high-grade west-striking and steeply-plunging lode system that was discovered as a result of follow-up drilling at Gilbey’s North extension discovery, immediately north of the Gilbey’s open pit at Dalgaranga.
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