USD $4,165.18
Goldman Latest grade-control drilling includes 2 metres at 69.7g/t gold.
GoldArc Resources Limited (ASX:GA8) has extended high-grade coverage at the Mt Stirling Well deposit within its Leonora North Gold Project in Western Australia.
The fifth batch of grade-control results covers 85 reverse-circulation holes for approximately 2,245 metres. GoldArc said the programme is feeding into mine planning for Mt Stirling and Mt Stirling Well.
The company reported the following downhole intersections:
- 2m at 69.7g/t Au from 23m, including 1m at 137.0g/t Au from 23m in 26BSWRC906
- 1m at 29.5g/t Au from 24m in 26BSWRC1044
- 1m at 10.9g/t Au from 27m in 26BSWRC1062
- 1m at 8.72g/t Au from 22m in 26BSWRC1042
- 2m at 4.95g/t Au from 24m, including 1m at 7.59g/t Au from 24m in 26BSWRC993
All reported widths are downhole widths and true widths are not stated.
The programme is funded by BML Ventures under a 50:50 net profit share arrangement, while GoldArc retains 100% ownership of Mt Stirling and Mt Stirling Well. Remaining assays are pending and a further approximately 6,600 metres of reverse-circulation drilling is planned to start in August.
GoldArc managing director Paul Stephen:
Mt Stirling Well has now returned high-grade results in five consecutive batches, and this batch includes the best intercept we have recorded at the deposit. What matters for shareholders is that this is close-spaced data going straight into the mining models, and BML Ventures is funding all of it. We are in the final phase of the program with mine planning underway.
