Bardoc Gold Receives Encouraging Results from High-Grade Extensional Drilling at Zoroastrian

BDC

Bardoc Gold Limited (ASX: BDC) operates as a mineral mining company. Bardoc Gold offers its services in Australia. As per the recent release on the exchange, the company has disclosed that they have discovered materially important results received from extensional drilling, which was performed at the Zoroastrian South site, with the first drill-hole KNCD180013, completed late last year and a further four holes completed in January.

The Notable results include – 

  • 11.44g/t of gold was extracted at a depth of the 2.14m, from the hole KNCD180013 dug till 393.4m.
  • 6.52g/t of gold was extracted at a depth of the 7.55m, from the hole KND190001 dug till 198.5m, which included 3.15m @ 13.16g/t of gold from 203.25m
  • 6.38g/t of gold was extracted at a depth of the 19.07m, from the hole KND190001 dug till 296.93m, which included 3.55m @ 17.0g/t of gold from 310.30m
  • 4.47g/t of gold was extracted at a depth of the 5.53m, from the hole KND190001 dug till 368.75m.

The 1,800 meters Reverse Circulation drilling and the diamond drilling program were extended on account of the apparent identification & discovery of numerous mineralised layers in the hole KND190001. The assay results of the hole KND190002 are still pending.

The company is strategically positioned for the growth in the year 2019, which is evidenced by its acquisition strategy with the completion of two corporate mergers with Aphrodite Gold, Excelsior Gold. The consolidated Mineral Resources Estimate provided a robust base which will further support the ongoing feasibility and technical studies, which are aimed towards the establishment of the Bardoc Gold Project as a noteworthy new mid-tier gold project in the region of North Kalgoorlie Western Australia.

The company has completed the total group Mineral Resource Estimate (MRE) for the newly-consolidated Bardoc Gold Project. The Project is having 38.6Mt @ 2.1g/t gold for 2,575,000 ounces of contained gold.

As per the company’s announcement, the technical/feasibility studies will continue in 2019 to advance the Bardoc production strategy. As regards the opportunities in FY 2019, the resource drilling will focus upon delivering the high value, high confidence ounces to strengthen LOM schedule.

Now, let us have a quick look at Bardoc Gold Limited’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.050, trading flat during the day’s trade with a market capitalisation of ~$38.46 Million. The counter opened the day at $0.048 and touched the day’s high of 0.052 and touched the day’s low of $0.047 with a daily volume of 1,119,136. The stock has provided a YTD return of -22.22% & also posted returns of -44.00%, -42.47% & -23.64% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 0.120 and touched 52 weeks low of $ 0.042, with an average volume of ~549,524.


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