Aggressive near-mine exploration pays off for Doray
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Junior gold miner Doray wants to extend the life of its 85,000 ounces a year Deflector mine in Western Australia – and it looks like near-mine exploration could be paying off.
Recent drilling hit good copper and gold grades at two prospects less than 500m from the mine itself.
Significant results from Spanish Galleon, 500m away, included 1 metre at 9 grams per tonne gold and 0.1 per cent copper, 52 metres from surface.
Deflector Southwest, 300m from the mine, returned several high-grade intersections including 1 metre at 11.3 grams per tonne of gold and 4.4 per cent copper, 102 metres from surface.
The miner says the Deflector Southwest mineralisation show similarities to the mine itself, and “clearly indicates a continuation of the mineralised system to the southwest”.
The Doray share price was unchanged at 46.5c in early trade.
These results confirm a long-held belief that there is untapped mineralisation across the broader Deflector project area, Doray boss Leigh Junk says.
“We have been consistent over the past year in investing in near-mine exploration with the target of extending Deflector’s mine life,” he says.
A second phase of drilling to follow up on these results are anticipated to kick off in mid-March.