GoldArc Resources (ASX:GA8) reports further Mt Stirling grade control results as program progresses

GoldArc Resources has reported further grade control results from the Mt Stirling Well and Mt Stirling deposits within the Leonora North hub, including the strongest individual intercept reported to date from Mt Stirling Well and results from the central and eastern upper zone of Mt Stirling.

The results are informing updated mining models and mine planning in preparation for the anticipated approval of the Mining Development and Closure Proposal (MDCP).

Highlights

• Mt Stirling Well returned a standout intercept of 1m @ 31.0g/t Au from 15m in hole 26BSWRC838.

• Additional Mt Stirling Well results included 2m @ 13.46g/t Au from 7m, including 1m @ 21.4g/t Au from 7m, and 2m @ 9.43g/t Au from 14m, including 1m @ 16.5g/t Au from 14m.

• Four successive batches of results at Mt Stirling Well have confirmed the systematic presence of high grade shoots consistent with the deposit’s 2.3g/t Au resource grade.

• The ninth batch of Mt Stirling results covered the central and eastern upper zone, returning narrow intercepts consistent with the deposit’s margin and shallow benches, providing ore boundary definition data for mine planning.

• Approximately 25,292m of 34,000m combined grade control drilling has been completed, representing approximately 74% of the program.

The latest results form part of GoldArc’s partner funded reverse circulation grade control program across the Mt Stirling Well deposit (M37/1305) and Mt Stirling deposit (M37/1306) within the Leonora North hub.

The 34,000m program is fully funded by BML Ventures Pty Ltd under a 50/50 net profit share arrangement, with GoldArc retaining 100% ownership of Mt Stirling and Mt Stirling Well.

Mt Stirling Well is located approximately 700m southwest of Mt Stirling and hosts a JORC Inferred Mineral Resource of 198,000t @ 2.3g/t Au for 15,000oz.

The fourth batch of grade control results from the deposit included 66 holes for approximately 1,345m, with results including multiple intercepts above 6g/t Au and subintervals exceeding 10g/t Au.

The company stated that the results confirm the presence of high grade quartz vein hosted shoots across Mt Stirling Well.

Gold mineralisation at the deposit occurs within narrow, flat dipping quartz veins within a granitoid host rock, representing a different structural setting to the Hydra Fault controlled schistose mylonitic mineralisation at Mt Stirling.

At Mt Stirling, the ninth batch of results related to 17 holes for 293m, primarily from the eastern upper zone of the deposit.

The company stated that this area covers shallow upper benches where mineralisation is narrower than the broad central envelope reported in earlier rounds.

Results included 2m @ 1.41g/t Au from 6m, 3m @ 1.56g/t Au from 8m, and 1m @ 1.94g/t Au from 1m.

The grade control program uses a closely spaced drill grid, with fences 8m apart and holes approximately 6m apart along fences, to systematically cover the Mt Stirling and Mt Stirling Well deposits ahead of potential open pit mining.

According to GoldArc, the drilling defines ore grade boundaries at the resolution required for production scheduling and assists BML Ventures with extraction scenarios and production scheduling for each blast zone.

GoldArc’s stated next steps are to progress mine planning and updated mining models at Mt Stirling with BML Ventures in preparation for anticipated MDCP approval, continue grade control drilling at Mt Stirling Well, and release further results as batches are received and QA/QC validated.

Subject to MDCP approval, GoldArc and BML Ventures anticipate mining will commence at Mt Stirling.

The latest announcement details further results from the grade control program, with Mt Stirling results being incorporated into updated mining models and mine planning while grade control drilling continues at Mt Stirling Well.

The company will release further results progressively as batches are received and QA/QC validated.