USD $4,165.18
Goldman New drilling identifies standout high-grade intercepts as underground mine de-watering prepares to begin
Gorilla Gold Mines Ltd (ASX:GG8) has reported significant new high-grade gold drilling results from its 100%-owned Vivien Gold Project near Leinster in Western Australia, including a new discovery approximately 400 metres north of the historic Vivien underground mine.
The new high-grade discovery at the previously untested Vince Prospect was made in a geological setting similar to the Vivien Main underground mine. The company said multiple additional gold-bearing quartz veins were also intersected in the same hole, while an off-hole down-hole electromagnetic (DHEM) conductor suggests further high-grade vein potential along strike.
The strongest reported drill results include:
- 2.1m @ 55.4g/t Au from 226.9m in VIVEX012 (Vince Prospect)
- 4.1m @ 5.3g/t Au from 218.8m in VIVEX016 (Val Prospect)
- 7.1m @ 2.0g/t Au from 300.0m in VIVEX015 (Val Prospect)
Further drilling at the recently discovered Val Prospect, located within 70 metres of existing underground development, continues to support the potential for additional high-grade mineralisation.
The company has also executed an agreement with a subsidiary of Gold Fields Ltd to commence de-watering of the fully permitted Vivien underground mine, with pumping expected to begin in the coming weeks. Restoring underground access is expected to enable drilling, geological mapping and technical assessments as the company evaluates redevelopment opportunities.
The Vivien Project hosts a Mineral Resource of 278,000 ounces at 4.2g/t gold and has historically produced approximately 370,000 ounces at an average grade of around 5.5g/t gold.
Gorilla Chief Executive Officer, Charles Hughes, commented:
This is another exciting breakthrough for our exploration team and marks a big step forward at Vivien. The outstanding intercept at the Vince Prospect of 2.1m at 55.4g/t from a completely new target 400 metres north of the Vivien Main underground mine shows that our simple geological model is successful in identifying additional high-grade mineralisation beyond the current resource.
The high-grade Vivien mine has produced about 370,000oz at better than 5 g/t Au, this new discovery sits on a previously untested parallel structure to the Vivien Main structure and is one of the highest grade intercepts on the project to date.
Equally encouraging is the continued drilling success at the Val Prospect, where drilling is confirming the potential for another high-grade position immediately adjacent to existing underground infrastructure. Together, these discoveries reinforce our belief that Vivien is far more than a single historical orebody and has the potential to evolve into a much larger high-grade gold system.
Importantly, we’ve also reached agreement to commence de-watering of the underground mine in the coming weeks. Having the optionality to restore access to the underground is a major milestone that can allow detailed underground mapping, drilling and technical assessments to move forward as we evaluate redevelopment opportunities at what is already a substantial high-grade gold project.
With drilling continuing at Vivien and across our North Kalgoorlie Hub, we see enormous opportunities for discovery and growth across our high-quality Goldfields portfolio.
