REZ gears up for another winning round at Gigante Grande
Link copied to
The solid results returned so far from ASX listed REZ’s highly prospective Gigante Grande prospect has given the company confidence to kick off another round of drilling aimed at delivering a resource.
Sydney based & ASX listed Resources & Energy Group (ASX:REZ) is starting a fresh drilling program this week at Gigante Grande, located on the eastern side of its flagship East Menzies goldfield project in Western Australia.
The 26-hole, 3580m program will target a number of structures that have been identified from recent exploration, with the end goal being a new resource for the prospect.
Gigante Grande has shown early signs it could be a tier one deposit, with past drilling having already provided evidence of a very large vein and shear-hosted gold system.
Thirty of the 44 holes that have been drilled have intersected gram-level gold mineralisation, and 100 intervals of mineralisation, with a combined thickness of 434m, has been intersected.
This represents about 7 per cent of the over 6000m drilled so far at the prospect.
Executive director Richard Poole says at a cut-off grade of 0.3 grams per tonne (g/t) gold, the mineralised intervals have a combined weighted grade of 2.29g/t.
“These results are strong indicators that the Gigante Grande Prospect offers potential to support a very large, and shallow open cut gold mining operation.”
The mineralised zone is up to 300m wide, has a strike length of at least 1.4km and is open to the north, south and west.
Broad zones of ore grade mineralisation have been intersected in this area from depths as shallow as 11m and the resource remains untested below 200m.
The East Menzies goldfield project in Western Australia spans +100sqkm of a significant orogenic lode gold province that hosts several major gold mines and deposits.
This article was developed in collaboration with Resources & Energy Group, 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.