Besra ready to target high grades to grow 960,000oz Jugan gold deposit
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Besra Gold is a different breed of mining IPO and with a 3.3Moz resource already in its back pocket it is no surprise its Bau project has plenty of walk-up drill targets.
Despite listing this month, Besra (ASX:BEZ) is already a well-advanced prospect and boasts a gold resource at the project of 73.6Mt at 1.43g/t for 3.3Moz, with a further exploration target of 4.89-9.27Moz at 1.7-2.5g/t.
Located in East Malaysia, it is believed to bear geological similarities to the rich Carlin gold trend in Nevada, currently mined by the world’s largest gold miners Barrick and Newmont.
Besra’s most advanced deposit is Jugan, where it already commands an impressive measured and indicated resource of 870,000oz at 1.5g/t and inferred resource of 90,000oz at 1.6g/t.
On top of that is an exploration target of 2-3.2Moz at 1.8-2.5g/t.
That is what Besra will be looking to prove up with a new resource extension drilling campaign starting in the next 2-3 weeks.
Drilling is set to target mineralisation open along strike and at depth representing “significant extensions” to the current Jugan orebody, where previous intersections included incredible hits like 123m at 2.56g/t, 57m at 3.92g/t, 102m at 1.93g/t and 46m at 4.61g/t.
All in all 14 holes will be drilled in the initial campaign for 800m, funded from the proceeds of Besra’s $10 million IPO.
A theory Besra is particularly keen to test is the potential for gold grades to increase at depth.
Deeper holes drilled to date suggest the Pedawan Shale becomes increasingly siliceous, and therefore more brittle and less ductile.
These rock properties are more conducive to fracturing, veining and brecciation.
That means more potential to host rich, dense accumulations of gold, making down dip drilling a good option to target higher grades and additional gold resources.
Drilling will also target the strike extent of the shallow crestal zone of mineralisation at Jugan, with infill drilling to provide better definition of higher-grade zones that may be associated with the top of the plunging northeast limb.
Besra is aiming to both improve the classification and size of the resource ahead of future development studies.
This article was developed in collaboration with Besra Gold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.