These 4 red-hot gold explorers are rolling in paydirt
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The morning’s top gold drilling results are from Predictive Discovery, Black Cat Syndicate, Marmota Energy, and Godolphin Resources.
Highlights from the large power auger drilling program – a quick, cost effective way of gathering ‘bedrock’ samples – included 4m at 9.7 grams per tonne (g/t) gold, inside a larger 16m section at 3.9g/t.
Anything 5g/t and above is generally considered high grade.
Predictive says the drilling has also uncovered two new high-grade gold targets nearby.
Black Cat Syndicate (ASX:BC8) is targeting an initial 1 million ounce (moz) resource across its project area near Kalgoorlie, ahead of full production in the March 2022 quarter.
Currently sitting at 711,000oz, 1moz seems like a shoo-in.
Fresh drilling has hit high-grade gold across multiple targets, including 3m at 40.99g/t at the Fingals Fortune open pit.
The shallow and high-grade Myhree, Queen Margaret and Trump deposits remain open in multiple directions, the company says.
Drilling is currently progressing at the Imperial and Majestic targets “and will be ongoing throughout 2020 with a steady flow of results followed by resource upgrades from here on”, Black Cat managing director Gareth Solly says.
A maiden drill hole at Godolphin Resources’ (ASX:GRL) Mt Aubrey project has returned multiple significant gold hits.
Assays include 7m at 1.52g/t from 36m in the target ‘oxide’ zone, and 3m at 7.41g/t gold in the previously untested fresh rock from 99m, just above the basal basalt/sediment contact.
The results confirm that this deeper zone is an important exploration target for gold mineralisation, Godolphin says.
A further four drill holes ~500m to the east are planned to test this same contact in the current drill program.
This is now the third +25g/t intercept recorded at the project’s NW Flank area, Marmota says.
This current drill program will now be expanded from ~7500m to +11,000m, with extra holes added to a number of locations including the NW Flank.