Gascoyne (ASX:GCY) abuzz from top-three strike

Gascoyne Resources’ deepest drill hole to date has struck an outstanding high-grade intercept 110 metres below the 303koz @ 4.64g/t gold resource at its Dalgaranga Gold Project in Western Australia.

The drill hole into a fast rising Never Never deposit showed visible gold immediately and assays have now come home with a 29.15m @ 11.09g/t gold from 449m strike to claim a top-3 intercept from a campaign which has continued to bring in top-end results.

Gascoyne Managing Director and Chief Executive Officer Simon Lawson said expectations were high, and intersecting more gold-rich Never Never-style mineralisation beneath the resource marked another exploration milestone.

“The entire geology team was confident we should be in for another strong result and we have been eagerly awaiting these assays. Given that the intercept position was well outside the resource envelope, the implications for the upcoming Never Never MRE update could be significant,” Mr Lawson said.

Lawson said the company had decided to report assays with its standard 50g/t top-cut and uncut assays to provide insight into the extremely consistent, high-grade nature of the deposit.

“On an uncut basis, three intervals assayed triple-digits, over 100g/t gold, from one of our deepest holes so far!” he noted.

“This important intercept indicates the Never Never ore body maintains good volume and very good high grades from surface to now well over 500m down-plunge. We have consistently been able to target and hit this system for over half a kilometre – half a kilometre of high-grade gold!”

Another hole into the southern end of Never Never was overshadowed by the top end result but still returned with a significant 9m @ 4.08g/t gold from 201m strike, including a metre of gold at 180g/t.

Gascoyne now await results from the next hole, currently being drilled to intersect the system around 550 to 600 metres down-plunge as drilling continues to provide insights into the raw scope of its rapidly emerging deposit.

Plan view of the Never Never deposit

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