GoldArc Resources (ASX:GA8) reports strongest Mt Stirling Well intercept to date
GoldArc Resources has reported its 5th batch of grade control results from the Mt Stirling Well deposit within the Leonora North hub, with 85 holes for approximately 2,245m completed.
The batch included the strongest intercept recorded at the deposit to date, returning 2m @ 69.7g/t Au from 23m, including 1m @ 137.0g/t Au from 23m in hole 26BSWRC906.
Highlights
85 holes for approximately 2,245m were completed across batches 32, 33, 38, 43 and 44.
26BSWRC906 returned 2m @ 69.7g/t Au from 23m, including 1m @ 137.0g/t Au from 23m.
Other reported intervals included 1m @ 29.5g/t Au from 24m, 1m @ 10.9g/t Au from 27m and 1m @ 8.72g/t Au from 22m.
The program is fully funded by BML Ventures 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 latest results included multiple intercepts above 7g/t Au and subintervals exceeding 10g/t Au, with the announcement stating that they confirm the presence of high grade quartz vein hosted shoots across the deposit, while holes not listed in the significant intercept table returned results below the reported 0.5g/t Au cut off.
Further reported results included 1m @ 7.96g/t Au from 29m in 26BSWRC1049, 2m @ 4.95g/t Au from 24m including 1m @ 7.59g/t Au from 24m in 26BSWRC993, and 3m @ 4.27g/t Au from 11m including 1m @ 7.99g/t Au from 11m in 26BSWRC1032.
At Mt Stirling Well, gold mineralisation occurs in narrow, flat dipping quartz veins within a granitoid host.
At Mt Stirling, gold mineralisation is hosted within high strain schistose mylonitic deformation within Hydra Fault, within a greenschist style strongly hydrothermally altered meta basalt, and is preferentially associated with strongly pervasively silicified or silica flooded, sulphidic intervals with elevated or enriched arsenic contents.
The grade control program employs 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.
GoldArc states that the drilling defines ore grade boundaries at the resolution required for production scheduling, assisting BML Ventures to optimise extraction scenarios, reduce dilution risk and inform production scheduling for each blast zone.
GoldArc Managing Director Paul Stephen said:
“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.”
Approximately 27,537m of the combined program has now been completed, with the program advancing through its final phase and the focus shifting to Mt Stirling Well.
Grade control drilling is continuing to complete systematic coverage of the deposit, with further assay batches to be reported as they are received.
GoldArc’s stated next steps are to progress mine planning and updated mining models at Mt Stirling with BML Ventures, release the remaining Mt Stirling Well grade control assay batches, and commence an approximately 6,600m RC program in August 2026 testing soil gold anomalies around the Mt Stirling deposits.
The company also plans to follow up Yttria’s 2 newly defined gold corridors with RC drilling, testing for higher grade zones at depth and along the open southern strike extent.