Gold: These four +1moz explorers keep uncovering more treasure
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A revitalised junior gold exploration sector is enjoying positive investor sentiment and, more importantly, true exploration success. This morning’s big announcements come from Bardoc Gold, Oklo Resources, Los Cerros and Arrow Minerals.
Bardoc Gold (ASX:BDC) has already bagged up a significant 3.02-million-ounce (moz) gold resource at its namesake project near Kalgoorlie in WA.
Fresh success at the newly acquired ‘Mayday North’ prospect, including 12m at 2.45 grams per tonne (g/t) gold, means that Bardoc will probably look at expanding the 79,000oz deposit and “establish it as a significant satellite mining opportunity”, Bardoc says.
The company has now established an additional ‘exploration target’ for Mayday North of up to 171,000oz.
“This an exciting development given that it is our first serious drilling campaign since acquiring the Mayday North project last year,” chief exec Robert Ryan says.
“The new results, coupled with the excellent results from last year, have clearly demonstrated the presence of a large gold system within an under-explored area that has seen virtually no modern exploration.”
A pre-feasibility study (PFS) based on the current 3moz resource is in its final phases and due for release late this quarter, the company says.
The hits just keep coming for African explorer Oklo Resources (ASX:OKU).
A new discovery at Seko, within the company’s flagship Dandoko project, has returned wide intersections including 34m at 4.07g/t gold, 83m from surface.
Mineralisation remains ‘open’ in multiple directions.
All new Seko results will be incorporated into the maiden resource scheduled for completion in the second quarter, Oklo says.
The consistent flow of remarkable results is rapidly growing the scale of this new discovery, managing director Simon Taylor says.
“With this new zone remaining open at depth and along strike, we are accelerating the rate of drilling to ensure as much of this mineralisation reports to our maiden resource estimate as possible,” he says.
Los Cerros (ASX:LCL) – a recent tie up between former minnow Metminco and private gold explorer Andes Resources – has established a 1.3moz resource at the Quinchia project in the Mid-Cauca porphyry belt of Colombia without drilling a hole.
The company is in the process of converting resources, drilled out by TSX-listed Seafield Resource in 2011, to one compliant with ASX ‘JORC’ standards.
“Whilst the review is in its infancy it is apparent that financial pressures prevented Seafield from completing an integrated exploration program at Dosquebradas, Tesorito and Miraflores prospects, comprising the modelling and drill testing for the cores of these impressive porphyry systems and understanding the controls to overprinting high-grade epithermal zones,” Los Cerros boss Jason Stirbinskis says.
Significant gold intersections from latest drilling, including 6m at 3.8g/t, confirms “a >3 km long continuous zone that hosts significant gold mineralisation”, managing director Howard Golden says.
“The Dassa gold discovery remains open to the north, south, east and downdip to the east,” he says.
“We look forward to completing further drilling to grow the Dassa gold discovery, still in its early days after the maiden drilling program just two months ago.”