E79 Gold Mines Limited (ASX: E79) has demonstrated potential for a large-scale gold systems with assay results from recent Reverse Circulation (RC) drilling at Target 3, within its Laverton South Gold Project in Western Australia.
Highlights:
- First-pass RC drilling demonstrates potential for a large-scale gold system
- Assays returned from first-pass Reverse Circulation (RC) drilling at Target 3, completed in late 2022
- Multiple +1g/t zones of gold mineralization intersected within broader zones of strong gold anomalism at depth under the Central Target
- The broad zones of gold anomalism are hosted within a pyritised granite, analogous to other large deposits in the region including Rebecca (Ramelius Resources) and Granny Smith (Goldfields)
- Follow-up RC drilling to commence in March
- Significantly, drill-hole PRC008 (6m @0.36g/t Au) ended in mineralization and in PRC010 (5m @0.62g/t Au), mineralization ended 2m from the bottom-of-hole.
“This is the first time the anomalous gold encountered in previous Air Core drilling at Target 3 has been tested at depth,” CEO, Ned Summerhayes, said.
“Encouragingly, RC drilling at the Central Zone has identified multiple zones of bedrock gold mineralization in fresh granite, providing early-stage indications of a large gold mineralized system. The gold is located on the eastern side of the granite, proximal to a basalt contact, and is associated with an increase in sulphide content.
“From this early-stage drilling, we are able to draw broad analogies to the nearby +1Moz Rebecca Gold Project and the +5.5Moz Granny Smith Gold mine.
“Follow-up RC drilling is planned for March and will be designed to identify zones of higher-grade mineralization within this emerging large-scale gold system.”
E79 Gold is planning to continue busy and active programmes over the Laverton South and Jungar Flats (Murchison) Projects including:
February-March 2023 Release of AC, RC and auger samples as they become available
March 2023 Commence AC and RC drilling at Laverton South Project
May 2023 Commence drilling at Murchison Project
For further information please visit: https://e79gold.com.au/
