Laneway Resources Limited (ASX:LNY) continues to obtain high-grade gold assay results from the drilling programme completed earlier this year at the high grade Sherwood and Sherwood West deposits within Laneway’s 100% owned Agate Creek Gold Project in North Queensland, Australia.
Highlights
- Assay results have now been received for the remaining RC drill holes, primarily from the geotechnical drilling.
- Significant drill intercepts at the Sherwood deposit include: CCGC354 – 1m @ 9.40 g/t Au from 43m; CCGC355 – 1m @ 4.07 g/t Au from 2m; CCGC356 – 1m @ 6.37 g/t Au from 64m; 1m @ 34.40 g/t Au from 116m
- Significant drill intercepts at the Sherwood West deposit include: CCGC339 – 7.2m @ 5.97 g/t Au from 14.4m (including 2.4m @ 10.55 g/t Au from 18m); CCGC340 – 8.4m @ 4.46 g/t Au from 12m (including 1.2m @ 12.2 g/t Au from 13.2m); CCGC345 – 10.8m @ 2.74 g/t Au from (including 1.2m @ 10.25g/t Au from 14.4m)
- These are the last of the drilling results from the recent RC drilling program, primarily utilised for geotechnical engineering design drilling.
- The diamond drilling programme that was also completed was designed primarily to assess geotechnical constraints for pit designs and also targeted additional deeper Rhyolite zones at Sherwood. This diamond drilling programme still has assay results pending.
- The drilling programme followed the completion of the Multi-Element study, and was designed to confirm the interpreted intrusive related gold system (IRGS) potential and targeted: Interpreted extensions and repetitions at Sherwood & Sherwood West; and The deeper interpreted high grade gold zones below Sherwood.
Managing Director, Brad Gordon, said drilling results so far are confirming extensions of the previously mined veins along with previously identified deeper almost parallel systems which also host narrow high grade gold zones.
“These results are being incorporated into pit designs for the current mining activities at Agate Creek and with the progress being made towards the restart of the Georgetown Gold Processing Plant, Laneway has a clear pathway to monetise the expanding high grade Mineral Resource being outlined at Agate Creek,” Mr Gordon said.
For further information please visit: https://www.lanewayresources.com.au/
