Confirms Prospect Hosts Large Mineralised System
Resources & Energy Group Limited (ASX: REZ) says exploration completed to date at its Gigante Grande target in Western Australia has confirmed that the prospect is host to a large mineralised system.
A recently completed exploration programme has continued to deliver results which support the potential for the Gigante Grande prospect to host a large‐scale vein and shear style gold deposit
Significant down the hole intervals of gold mineralisation have been intersected in five of the holes drilled and assayed so far.
The company believes that if follow up drilling can repeat some of the results obtained so far, the project has potential to rapidly advance to the resource generation phase
A January drilling programme will focus on a combination of shallow and deeper holes which are being planned to drill test what is believed to be a preferred orientation with respect to gold mineralisation within the contact between the Moriarty Shear Zone and the Gigante Granodiorite. A total of 13 holes are planned.
As a prelude to drill operations commencing in early January, approximately six km of access from M29/189 (Granny Venn pit) east to the Gigante Grande prospect has been upgraded.
This carriageway has been designed to accommodate a low bed loader, which enables easier flitting of track mounted drilling equipment around the site. This also provides the company with some flexibility in sourcing equipment for future exploration requirements.