Gascoyne Resources Limited (ASX:GCY) has successfully stepped-out drilling down plunge of the Sly Fox open pit at the company’s Dalgaranga mine in Western Australia.
Managing Director and CEO, Richard Hay, said the results from the second deeper diamond core hole drilled approximately 350m below the Sly Fox pit means both holes have now intersected strong and wide mineralisation zones over 400m below surface.
“The results confirm that the Sly Fox deposit continues at depth with the grade and width indicating potential for future underground mining.
“A follow up drill programme is now being designed to infill and test for the extents of the deeper zone which is open in all directions. “Importantly, the Sly Fox deposit is located on the Dalgaranga Mining Lease, adjacent to the Gilbey’s open pit and less than 1.5km from Gascoyne’s low cost processing plant.”
The drillhole DGRC0657-DT intersected significant gold mineralisation approximately 450m vertically below surface, the deepest hole drilled to date targeting the Sly Fox lode.
Results received include 44m @ 2.0 g/t Au from 466m, including 18m @ 3.8 g/t from 489m within contains a higher grade interval of 6m @ 6.3 g/t Au. A hanging wall zone of mineralisation was also intersected containing 21m @ 1.3 g/t Au from 435m.
This second DDH lies approximately 40m SE from DRC0654-DT as reported in June 2021 (43m @ 0.8 g/t Au, including 6m @ 2.2g/t Au).
The mineralisation intersected is associated with strongly sheared quartz, biotite, carbonate, pyrite altered schists. Deeper drilling to date at Sly Fox shows mineralisation occurs in a 10 – 25m wide zone over 150m in strike length, dipping around 85 degrees to the north east within a steep westerly plunging lode that remains open at depth and along strike.
Follow up drilling is being planned to further scope out the underground mining potential of the Sly Fox deposit, initially targeting infill of the 200m gap above drill hole DGRC0657-DT.