Gold explorers surge after unveiling positive drilling results
A gaggle of gold explorers have surged on the market today after unveiled positive drilling results.
Apollo Consolidated, Egan Street, Overland and Intermin all reported high results from their latest assays.
Egan Street Resources (ASX:EGA) reported a hit of 38.6 g/t (grams of gold per tonne) at a depth of 163.8 metres at its Rothsay Gold project near Geraldton, among others.
“Following our recent $4 million capital raising, the company is well-funded to adopt an aggressive approach to growing the resource inventory,” sad managing director Marc Ducler.
“Having just finished the third diamond drill program, we are already well underway with our fourth campaign – which we expect to continue through the Christmas and New Year period.
“The results received to date will underpin an interim resource upgrade due out later this quarter.”
Egan Street shares bounced 15 per cent to 34c in Tuesday lunchtime trade.
Apollo (ASX:AOP) called its drill target “exceptional”, after getting an intercept of 25 metres at 6.80g/t of gold at a depth of 207 metres at its Rebecca project in the south of Western Australia.
Other holes saw intercepts of up top 15.95g/t.
Apollo shares shot up 10 per cent to 27c.
Intermin Resources (ASX:IRC) told investors it’s been getting gold intercepts at its Anthill project near Kalgoorlie. There were 17 hits at depths between 11 and 187 metres of 1.48g/t to 11.15 g/t.
“These outstanding high grade results at Anthill demonstrate large scale open cut and underground potential and we look forward to commencing the accelerated and fully funded drilling program to test extensions to the mineralisation along strike, at depth and on parallel structures,” said managing director Jon Price.
Intermin shares surged 14 per cent to 12c.
Overland Resources (ASX:OVR) reported assays of up to 24.8 g/t at its Wiluna prospect, Coralie Jean.
“A total of 81 samples have now been taken over 1000m of strike length [and] 55 of these samples occur over a 400m, very high grade corridor averaging 17.3 g/t,” the company said.
Overland shares were steady at 1.1c Tuesday luchtime.