Accelerate Resources (ASX:AX8) reports Phase 2 drilling results at Balagundi Gold Project

Accelerate Resources has reported assay results from its Phase 2 reverse circulation drilling program at the Balagundi Gold Project, located approximately 15km east of Kalgoorlie in Western Australia, with drilling completed across the Iron Bound Prospect and the Paris Gift Trend.

Highlights

• Phase 2 RC drilling completed 21 holes for 1,720m at Balagundi Gold Project
• Paris Gift returned 13m @ 1.25g/t Au from surface
• Paris Gift returned 13m @ 1.34g/t Au from 48m including 1m @ 11.48g/t Au
• Drilling completed at Iron Bound and Paris Gift targets
• Program designed to test multiple mineralised structures

The Phase 2 program comprised 6 holes for 696m at the Iron Bound Prospect and 15 holes for 1,024m at the Paris Gift Trend, with the drilling undertaken to test known mineralised structures across the project area.

At Paris Gift, the program included both extension and infill drilling, with assay results returning 13m @ 1.25g/t Au from surface and 13m @ 1.34g/t Au from 48m including 1m @ 11.48g/t Au.

The company stated that the drilling was designed to test mineralised trends and improve understanding of structural controls across the Balagundi Gold Project.

The results from Phase 2 drilling have been used to refine geological interpretation and assist with future drill targeting.

Accelerate Resources CEO Luke Meter said,

“Phase 2 drilling marks another important step in our systematic evaluation of the greater Balagundi Gold Project.”

He added that the program returned further shallow gold mineralisation and contributed to the understanding of multiple mineralised structures across the project.

The company has previously identified multiple mineralised trends within the Balagundi Gold Project, including the Delta Trend, and the Phase 2 program forms part of ongoing exploration activities across the broader project area.

Accelerate Resources has indicated that further work will focus on continued drilling and target evaluation across the Balagundi Gold Project, based on the results of the current and previous programs.

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