Bligh Resources Provides Mineral Resource Update In December Quarter Report

  • Jan 17, 2019 AEDT
  • Team Kalkine
Bligh Resources Provides Mineral Resource Update In December Quarter Report

Bligh Resources Limited (ASX: BGH) unveils the report on activities completed during the December 2018 quarter. The highlight has been the assay results returning the intersection of shear hosted gold-bearing lode at the company’s wholly owned Bundarra Gold Project near Leonora.

During the quarter, the company reported assay results from the drilling program completed at four-diamond core holes located at the Wonder North deposit in Bundarra Gold Project. The program was reportedly designed target extensions to the Wonder North Deeps mineralization.

The company reported that the step out program had confirmed the continuous extension of significant widths and grade of gold mineralization from the base of the Wonder North pit to 450 meters plus down plunge to the southeast. Further, the mineralization reportedly remains open both along strike and down dip with the return of intercepts up to 28 meters @ 3.0 g/t from 342 m, including 4 m @ 5.8 g/t.

On the Mineral resource front, the company has reported a significant increase at both the Wonder North Resource and the Bundarra Project Global resources. The Mineral Resource update incorporating the latest step-out drilling at Wonder North Deeps has reportedly delineated a further 1.5 Mt of the resource at Wonder North increasing its overall tonnage by 29% providing an updated estimate of 6.5 Mt @ 2.2 g/t for 470,000 ounces. This increased tonnage has resulted in Bundarra’s Resource tonnes increase by 1.5mt (+18%) to 9.7 mt at 2.1g/t and total ounces increase by 80,000 ounces to 660,000 ounces (+14%). Total Mineral Resources at Bundarra Project now stands at 9.7 Mt @ 2.1 g/t for 660,000 ounces of gold.

Currently, the company is in the process of review along with evaluating the open pit and underground potential at the Wonder North project. Besides reviewing the work to date, the company intends to map a plan for further drill activity. Also, the site rehabilitation of drilling undertaken at the project is currently underway and is expected to be completed by the end of the first 2019 quarter.

Listed on ASX in 2011, Bligh Resources Limited (ASX: BGH) is a gold exploration company. It is primarily engaged in the exploration and evaluation of gold projects across Western Australia.

Today, 17 January 2019, Bligh Resources’ shares are trading flat. The stock price last traded at $0.048 with a market capitalization of $13.72 million. Over the past 12 months, the stock price has witnessed a performance change of attractive 71.43% with the favorable price movement of 23.08% in the past three months. However, since last month, the stock is dipping low with a negative 4% change to date.


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