Bardoc Gold Limited (ASX: BDC) has reported further outstanding drilling results from the El Dorado Deposit within its 100%-owned 3.02Moz Bardoc Gold Project, located 50km north of Kalgoorlie in Western Australia.
Bardoc Gold’s Chief Executive Officer, Robert Ryan, said assay results from Reverse Circulation (RC) drilling completed before Christmas have confirmed the continuity of a broad zone of high-grade mineralisation directly below the current Mineral Resource, correlating with recently reported results and indicating an increasing grade profile at depth.
Mr Ryan said the ongoing success at El Dorado highlights the opportunity to increase gold resources at previously under- explored satellite deposits within the Bardoc Project.
“The impressive results being generated by deeper drilling at El Dorado are another reminder of the substantial exploration upside across the 3.02Moz Bardoc Project, and reflected the success of the company’s targeted exploration approach.
“The latest results from El Dorado show there is a high-grade core to the mineralisation outside the current resource model. We have also seen grades improving with depth, which has given us the confidence to remobilise the RC drill rig to target further extensions while we await assays from the remainder of the 2019 drill programme.
As gold reaches new record highs in Australian dollar terms of over $2,300/ounce, Bardoc’s strategy of building a sizeable, high-quality resource in Australia’s premier gold mining district has positioned the company well to become a sustainable gold producer.
“PFS studies are progressing well with results expected later this quarter and, while our cornerstone deposits at Aphrodite, Zoroastrian and Excelsior are the focus of this study, our recent exploration successes show there is still significant upside to our plan.”
Mr Ryan said the company’s multi-targeted exploration and drilling programme resumed this week, targeting further resource growth and discovery opportunities across the project area to support a project-wide resource update later this year.
In the meantime, work is well advanced on a Pre-Feasibility Study (PFS) based on the current 3.02Moz Mineral Resource and is on track to be finalised and reported to the market in Q1 2020.
Results from recent Reverse Circulation (RC) and diamond drilling (DD) at the El Dorado Deposit have defined a high-grade core of the mineralisation approximately 170m below surface which is interpreted as an extension to higher grade zones observed in the recently updated Mineral Resource.