Gascoyne Resources Limited (ASX: GCY) has received further “spectacular” assays from near-mine resource drilling at its Never Never gold deposit, within the Dalgaranga Gold Project in Western Australia.
Never Never is a high-grade west-striking and steeply-plunging gold deposit discovered while following up wide, high-grade drill intercepts from the earlier Gilbey’s North extension discovery, immediately north of the Gilbey’s open pit at Dalgaranga.
The initial Mineral Resource Estimate (MRE) of 79,600 ounces for Never Never was released on September 8, 2022. Since announcing the MRE, Gascoyne has completed two RC drillholes with high- grade assays returned outside the MRE envelope1, two diamond drill-holes with logged visible gold in wide mineralised intercepts down-plunge of the MRE, and several other holes awaiting assay.
“Never Never continues to return exceptional high-grade gold intercepts, even in areas we thought might be on the periphery of the system,” Managing Director Simon Lawson said.
“A good example is RC hole DGRC1121, which suddenly steepened while being drilled and we thought might fall short of its intended target, but it still intersected 29m @ 2.5g/t gold!
“In addition, during logging of a deeper diamond tail in hole DGRC1124-DT, we noted visible gold at 144.66m in the plane of Never Never but around 80m above target. That hole went on to intercept the main Never Never system at 220m downhole, with assays eagerly awaited.
“We are continuing to evolve and test our geological model with each drill-hole. These latest results include our first south-dipping diamond hole through the high-grade deposit, giving us valuable structural information as well as very solid assays of 21m @ 9.25g/t gold through Never Never and 29m @ 2.1g/t from the down-dip of Gilbey’s North.
“A vertical RC drillhole, DGRC1129, drilled down into the plane of the Never Never deposit in an area close to previously-reported visible gold in DGDH031, returned 25m @ 6.25g/t gold.
“Never Never is firming up as one of the best true high-grade gold discoveries in recent times and is located less than 1,000m from the operating Dalgaranga processing plant with a geometry very conducive to efficient mining.
“That represents an unbeatable combination for Gascoyne, and we look forward to expanding the mine as soon as we receive final approval from DMIRS to commence digging!”
For further information please visit: https://gascoyneresources.com.au/
