Greenstone Continues to Grow Burbanks With High-Grade Gold Intercepts
ADVERTISEMENT
The Assay - Mining investment news, insights and company profiles
Mining investment news, insights and company profiles
No Result
View All Result
Subscribe
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Videos
    • CEO Interviews
    • Investor Panels & Presentations
  • Company Profiles
  • Magazine
  • Newsletter
  • 121 Mining Investment
  • About
    • About Us
    • Our Team
    • Contact Us
    • Partners
The Assay - Mining investment news, insights and company profiles
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Videos
    • CEO Interviews
    • Investor Panels & Presentations
  • Company Profiles
  • Magazine
  • Newsletter
  • 121 Mining Investment
  • About
    • About Us
    • Our Team
    • Contact Us
    • Partners
No Result
View All Result
Subscribe
The Assay - Mining investment news, insights and company profiles
No Result
View All Result
Home News

Greenstone Continues to Grow Burbanks With High-Grade Gold Intercepts

byColin Sandell-Hay, Contributor - The Assay
2 months ago
Reading Time: 4 mins read
Greenstone Continues to Grow Burbanks With High-Grade Gold Intercepts

Greenstone Resources Limited (ASX:GSR) has extended the mineralized strike horizon at the Burbanks Gold Project in Westen Australia by 25% following a new northern discovery.

Further results from the Phase-1 drill campaign continue to reaffirm the high-grade nature of Burbanks.

The Burbanks Gold Project is located on a granted mining lease just 9.0km south of Coolgardie, Western Australia and is supported by a network of existing infrastructure including grid power, sealed roads and several neighbouring toll treatment plants, all of which will serve to expedite any future production decisions.

The most recent results form part of the current 10,000 metre Phase-1 drill campaign principally targeting the unclassified mineralization supporting the recent JORC (2012) Exploration Target range of 3.3-3.6Mt at 2.0-2.8g/t Au for 215,000 – 230,000 ounces of contained gold.

This Exploration Target is entirely separate from the contiguous Mineral Resource of 3.4Mt @ 2.5g/t gold for 277,547 ounces and does not include over 2.0km of largely untested strike potential. The most recent significant intercepts from the Phase-1 drill campaign include:

▪ BBRC405D: 3.00 metres @ 7.28g/t Au from 131.0 metres, including: ▪ 1.00 metre @ 19.20g/t Au from 132.0 metres

▪ BBRC377D: 3.20 metres @ 4.71g/t Au from 185.8 metres, including: ▪ 0.37 metres @ 29.50g/t Au from 185.8 metres

▪ BBRC377D: 7.80 metres @ 3.01g/t Au from 194.7 metres, including: ▪ 1.40 metres @ 8.64g/t Au from 196.6 metres

Five holes were also completed in late 2022 testing the northern prospectivity of the Burbanks Shear Zone. Historically the Burbanks Shear Zone was the most significant gold producing structure within the Coolgardie Goldfield, of which Greenstone controls over 5.5km, with historical underground production exceeding 324,000oz @ 22.7g/t Au. Importantly this drilling intercepted shallow and high-grade mineralization, serving to extend the known mineralized strike horizon by over 25% from 3.5km to over 4.5km. Significant intercepts from this new northern extension at Burbanks include:

▪ BBRC428D: 1.32 metres @ 6.68g/t Au from 210.0 metres, including: ▪ 0.32 metres @ 20.40g/t Au from 210.0 metres

▪ BBRC424D: 1.98 metres @ 4.46g/t Au from 242.0 metres, including: ▪ 0.59 metres @ 12.00g/t Au from 243.0 metres

This northern extension will form a core component of the latter two phases of drilling to be undertaken post the completion of Phase-1 in March, with all phases serving to test the true geological potential of the Burbanks Gold project across the entire 5.5km strike of the Burbanks Shear Zone.

▪ Phase 1: 10,000m infill drill campaign targeting unclassified mineralisation as defined by the Exploration Target

▪ Phase 2: 15,000m targeting down dip & along strike extensions of known mineralised lodes

▪ Phase 3: 25,000m targeting greenfields targets and extensions down to 500.0 metres

Drilling is scheduled to resume this week, with the mobilisation of the first of two multipurpose (reverse circulation and diamond) drill rigs, with the second drill rig scheduled to arrive mid-February. The initial focus of drilling at Burbanks will be the completion of the Phase-1 drill campaign following which, Phase-2 and Phase-3 will be prioritised.

“The current Phase-1 drill campaign continues to exceed our expectations, highlighting the true geological potential of Burbanks. Following from the recent intercept in BBRC371D of 7.00m @57.84g/t Au from 90.0m in December, we have not only continued to deliver further high-grade intercepts, but also grow the known mineralized strike horizon by a further 25%,” Managing Director and CEO, Chris Hansen, said.

“We are now entering a transformational period for the company, where over the next six months we will seek to test the entire 5.5km strike horizon of the highly prospective Burbanks Shear Zone, through the completion of a three-phase drill campaign, which will then serve to underpin any future resource update or economic evaluation.

“The high-grade nature of Burbanks should not be understated, as over the past ten years since 2012 the average open pit grade has declined 16% to 1.29g/t Au, whereas Burbanks has subsequently joined an exclusive list of ASX listed Australian gold projects with a resource grade >2.5g/t.

“Unlike a number of other Australian gold projects, Burbanks is located in the epicentre of the Australian gold industry, surrounded by a network of existing infrastructure, including processing plants, grid power and sealed roads. Serving to lower capital intensities and expedite our path to sustainable commercial production.

“Outside of Burbanks, we continue to work closely with our Joint Venture partner at Mt Thirsty in relation to an ownership consolidation and Initial Public Offering (IPO) of the Mt Thirsty project, principally aimed at providing our shareholders with a clear distinction between our base metal and precious metal projects.

“With drilling scheduled to resume this week at Burbanks, and gold assays typically returned within two to three weeks, we look forward to keeping the market updated on a regular basis.”

For further information please visit: https://greenstoneresources.com.au/

Tags: ASX: GSRExplorationGoldPrecious MetalsWestern Australia
TweetShareSend
Previous Post

Pantera Identifies Widespread Surface Manganese Mineralization at Weelarrana

Next Post

Recharge Hits Further Broad Copper Mineralization Zones at Brandy Hill South

Related Posts

Centaurus Pounces at Jaguar with Intercept of 20.4M @ 3.94% Nickel
News

Centaurus Pounces at Jaguar with Intercept of 20.4M @ 3.94% Nickel

byColin Sandell-Hay, Contributor - The Assay
29 March, 2023
St George Signs MoU With Global Battery Investor
Uncategorized

St George Mining Hits 121m Pegmatite Intersection at Mt Alexander

byColin Sandell-Hay, Contributor - The Assay
29 March, 2023
Sunshine Commences RC Drilling at Triumph Gold Project
News

Sunshine Commences RC Drilling at Triumph Gold Project

byColin Sandell-Hay, Contributor - The Assay
29 March, 2023
Widgie Identifies Lithium DSO Starter Opportunity With Maiden Resource at Faraday
News

Widgie Identifies Lithium DSO Starter Opportunity With Maiden Resource at Faraday

byColin Sandell-Hay, Contributor - The Assay
29 March, 2023
Sarytogan Acquires Kenesar Graphite Exploration Project in Kazakhstan
News

Sarytogan Acquires Kenesar Graphite Exploration Project in Kazakhstan

byColin Sandell-Hay, Contributor - The Assay
29 March, 2023
Astra Exploration Kicks Off Trenching Programme at Pampa Paciencia
News

Astra Exploration Kicks Off Trenching Programme at Pampa Paciencia

byColin Sandell-Hay, Contributor - The Assay
28 March, 2023
Next Post
Recharge Hits Further Broad Copper Mineralization Zones at Brandy Hill South

Recharge Hits Further Broad Copper Mineralization Zones at Brandy Hill South

Popular Articles

  • The Rise and Rise of Indonesian HPAL – But Can It Continue?

    The Rise and Rise of Indonesian HPAL – But Can It Continue?

    0 shares
    Share 0 Tweet 0
  • The Assay Guide to Palladium vs Platinum

    0 shares
    Share 0 Tweet 0
  • Zinc Mining & Market Outlook 2022-2025

    0 shares
    Share 0 Tweet 0
  • The Assay’s Guide to Manganese Mining and Production

    0 shares
    Share 0 Tweet 0
  • For Rare Earths It’s All About the Magnets

    0 shares
    Share 0 Tweet 0
  • Home
  • News
  • Articles
  • Investor Discussions
  • CEO Interviews
  • Company Profiles
  • Newsletter
  • Magazine
  • About Us
  • Our Team
  • Contact Us
Hyve logo

Please note: This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine are not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, any regulated products, securities or investments. This Web site and The Assay Magazine do not, and should not be construed as acting to, sponsor, advocate, endorse or promote any regulated products, securities or investments. This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated products, securities or investments, including, without limitation, any advice to the effect that any mining or metals related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor. A decision to invest in any regulated products, securities or investments should not be made in reliance on any of the information or materials on this Web site or in The Assay magazine. Before making any investment decision, prospective investors should seek advice from appropriately qualified and licensed financial, legal, tax and accounting advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.

Privacy Policy
Cookies
Hong Kong Residents Privacy Statement

© 2023 The Assay

No Result
View All Result
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Videos
    • CEO Interviews
    • Investor Panels & Presentations
  • Company Profiles
  • Magazine
  • Newsletter
  • 121 Mining Investment
  • About
    • About Us
    • Our Team
    • Contact Us
    • Partners

Please note: This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine are not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, any regulated products, securities or investments. This Web site and The Assay Magazine do not, and should not be construed as acting to, sponsor, advocate, endorse or promote any regulated products, securities or investments. This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated products, securities or investments, including, without limitation, any advice to the effect that any mining or metals related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor. A decision to invest in any regulated products, securities or investments should not be made in reliance on any of the information or materials on this Web site or in The Assay magazine. Before making any investment decision, prospective investors should seek advice from appropriately qualified and licensed financial, legal, tax and accounting advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.

Privacy Policy
Cookies
Hong Kong Residents Privacy Statement

© 2023 The Assay

Go to mobile version