Gascoyne Resources Limited (ASX: GCY) – $0.079

17 Jun 2015

Gascoyne Resources Limited (ASX: GCY) has intersected further shallow high grade gold mineralisation at the Golden Wings Deposit at its 80% owned Dalgaranga Gold Project in the Murchison region of Western Australia (Figure 1).


GCY Dalgaranga Au

Figure 1. Location of the Dalgaranga Gold Project



Highlights from the infill reverse circulation drilling program includes:


  • 21 metres at 4.5g/t gold from 26 metres including 16 metres at 5.6g/t gold from 26 metres
  • 6 metres at 3.8g/t gold from surface
  • 2 metres at 6.2g/t gold from 23 metres



The infill drilling program was conducted at Golden Wings to confirm gold grade continuity and distribution below the mineralised laterite horizon and to be used to upgrade to Indicated Resource status.


Results from the drilling confirm the company’s interpretation that high grade of gold mineralisation extend to surface in places over the deposit and immediately below mineralised laterites.


A Scoping Study on development options for Dalgaranga is nearing completion as well as a revised Mineral Resource for Golden Wings.



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