Special Report: Further drill results from REZ’s Gigante Grande prospect in WA continue to demonstrate its potential to be a large‐scale gold deposit.
A short 1200m November drilling program has returned significant intersections of gold mineralisation in five of the holes drilled and assayed so far.
Resources & Energy Group (ASX:REZ) today reported high-grade hits like 2m at 7.55 grams per tonne (g/t) gold from within a broader 5m at 3.59g/t from 199m. That hole (20EMRC039) returned a peak assay of 1m at 12.76g/t from 199m.
Drilling also returned very shallow hits like 4m at 0.93g/t from just 20m and 2m at 0.96g/t from 24m.
REZ says exploration completed so far has confirmed the prospect is host to a large mineralised system.
Gigante Grande revealed its potential early on, when back in October REZ revealed a ‘bonanza’ grade gold hit of 1m at 76.4g/t included in an interval of 20m at 5g/t from a 66m mineralised zone starting at just 71m.
That news more than tripled REZ’s share price at the time.
This latest round of drilling involved deepening hole 20EMRC016 which hit a further three intervals of gold mineralisation, taking the total number of mineralised zones intersected in this one hole to seven.
REZ has now defined 42m of gold mineralisation over an interval of 186m in hole 20EMRC016.
The results from this hole also confirm down dip continuity of gold mineralisation intersected up section in holes 20EMRC015 (10m at 0.91g/t from 96m) and 20EMRC014 (15m at 1.04g/t from 46m).
REZ says if follow-up drilling can repeat some of the results obtained so far, the project has potential to rapidly advance to the resource generation phase.
Results have been received so far for 900m of the 1200m program, with the rest expected in January.
REZ will begin a fresh 13-hole shallow and deep drilling program in January to test what is believed to be a preferred orientation with respect to gold mineralisation within the contact between the Moriarty Shear Zone and the Gigante Granodiorite.
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.