Greenstone Resources’ Burbanks project is one of the biggest and highest-grade undeveloped porjects in the Goldfields region. Pic via Getty Images.
Mining
Phase 2 drilling at Greenstone Resources’ Burbanks gold project in WA’s Goldfields region is continuing, targeting high-grade extensions beneath a historic mining centre that produced 324,000oz at 22.7g/t in its heyday.
Greenstone Resources’ (ASX:GSR) Burbanks gold project, located on a granted mining lease 9km south of Coolgardie, is one of the biggest and highest grade undeveloped resources in the region (6.1Mt at 2.4 g/t gold for 465,567oz).
The recent resource update increased inventory by over 68%, reaffirming a large-scale gold system with a total gold endowment now exceeding 850,000oz — including historical production — in the upper ~300m.
GSR’s ongoing Phase 2 drill campaign includes up to 15,000m of diamond and reverse circulation drilling targeting extensions to known high-grade gold lodes, largely in the upper 500m and adjacent to the existing resource.
First-pass drilling has confirmed the extension of the Main Lode ore body along strike and down plunge, with one hit of 0.3 metres at 45.40g/t gold from 428.1m extending high-grade mineralisation more than 100 metres below the historic workings.
Other results were returned outside the primary mineralisation corridor such as 7m at 5.51g/t gold from 130m, including 1m at 13.70 g/t gold from 136m.
Further to these results, GSR believes mineralised structures parallel to the main shear zone further highlight the potential for growth across the Burbanks project.
GSR managing director and CEO Chris Hansen says the most recent drill results continue to highlight the potential for further orebodies outside the known mineralised corridor.
“The extension of the Main lode orebody at depth aligns with what we have observed at Burbanks north, with continuity now extending to below 300m from surface at Main Lode and over 450m at Burbanks North,” he says.
“These new target areas provide opportunities for low-cost resource growth as we continue to advance the project.”
A separate short campaign has been undertaken in conjunction with the Phase 2 program to support a comprehensive metallurgical test work program, as part of the broader evaluation of future mining scenarios.
Outside Burbanks, the Mt Thirsty nickel-cobalt-manganese-scandium scoping study is in its final stages of completion with results to be released in the coming weeks.
This article was developed in collaboration with Greenstone Resources, 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.
Mining
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