Bardoc Gold Limited (ASX: BDC) has returned highly encouraging initial results from drilling at the recently acquired Mayday North Project, near Kalgoorlie.
The drilling is part of a programme targeting several of the satellite deposits within the company’s 100%-owned 3.02Moz Bardoc Gold Project.
Broad zones of gold mineralisation were intersected in the initial phase of Reverse Circulation (RC) drilling at Mayday North, confirming its potential to host significant mineralisation within what appears to be an emerging large-scale gold system which has had virtually no exploration for the past 15 years.
Bardoc Gold’s Chief Executive Officer, Mr Robert Ryan, said the initial results from the relatively limited maiden RC drilling campaign at Mayday North before Christmas demonstrated the significant potential for resource expansion at the Company’s recently acquired satellite projects.
“The recent drilling at Mayday North has not only confirmed the consistent wide, high-grade intercepts observed in historical drilling, it has also shown that the existing 79koz Resource forms part of a potentially much larger, intensely altered mineralised unit which is crying out for more drilling.
“The mineralised zone remains open to the north and down-plunge and we are looking forward to testing these positions with follow-up drilling that will commence early in the New Year.
“As we await additional assay results from the recent drilling at El Dorado and North Kanowna Star, 2020 looks set to be another significant year for Bardoc Gold as we work to grow and upgrade our resource base while completing our Pre-Feasibility Study based on the current 3.02Moz Mineral Resource.
“With consolidation activity and investor interest in the Australian gold sector – and particularly in the Kalgoorlie region – continuing to increase, this is a great time to be building a large gold resource base and laying the foundations for a long-term mining operation in one of the world’s Tier-1 gold districts.
“We are looking forward to what we anticipate will be another very active and successful year for the Company, underpinned by our strong balance sheet and highly experienced exploration and project development team.”
- Diamond core and RC drilling will resume in the week commencing 6 January 2020 with the drill rigs initially operating at Mayday North.
- Logging and assessment of the EIS drill core along the Black Flag Fault is continuing.
- Assays pending from drilling at El Dorado, North Kanowna Star and EIS drilling along the Black Flag Fault.
- Completion of Bardoc Gold Project PFS in Q1 2020.
During December the Company utilised two RC drill rigs and a diamond core rig to increase the exploration and resource development effort at the Bardoc Project. This rapid increase in drilling activity has allowed the Company to further evaluate the four high priority targets, 79koz Mayday North Project and the emerging El Dorado prospect, while at the same time undertaking initial exploration at the recently acquired North.
Kanowna Star Project and along the Black Flag Fault as part of a WA Government EIS co-funded exploration initiative.
Assay results are expected in January 2020 from the recent drilling at El Dorado and North Kanowna Star.
At the same time, drilling will resume next week, ensuring a strong and increasing level of news-flow into the New Year.
The encouraging initial results from the drilling program cap what has been a year of significant achievement for Bardoc Gold, including:
- The purchase of several strategic located gold resources in the North Kalgoorlie district;
- The acquisition of strategic tenements with quality exploration prospects; and
- The announcement of a significant upgrade in the Company’s gold Mineral Resource to in excess of 3Moz (refer ASX Release 30 September 2019).
This increase in exploration activity will provide a solid base for ongoing success as Bardoc Gold continues to expand its presence in the emerging gold development sector in the Kalgoorlie region and works towards the completion of a Pre-Feasibility Study in Q1 2020.
The results have confirmed the position of the mineralisation as well as intersecting mineralisation that is significantly wider than what was interpreted from the existing resource model, demonstrating the potential for substantial growth in the existing Mineral Resource.
Drilling is planned to re-commence at Mayday North in January 2020.