Gascoyne Resources Ltd – Enhanced Gold Grades at Glenburgh

  • Aug 02, 2018 AEST
  • Team Kalkine
Gascoyne Resources Ltd – Enhanced Gold Grades at Glenburgh

Gold grades up at Glenburgh: Gascoyne Resources Ltd.’s (ASX: GCY) stock rose (1.15%) on August 02, 2018 after shallow RC drilling at the Torino and Thunderbolt prospects at Gascoyne’s 100% owned organic growth project at Glenburgh intersections returned significant high grade gold up to 27.2 g/t. The company has completed a 55 RC hole exploration drilling program at the +1.0 million ounce Glenburgh Gold Project in the Gascoyne region of Western Australia. GCY has received highly encouraging results indicating extensions to known deposits and reflects the potential for future growth in resources that can be possible through continued exploration of this very large and under-explored project area. Glenburgh Gold Project has a Mineral Resource of 21.3Mt @ 1.5 g/t gold for 1.0 million ounces of contained gold. This 100% owned Glenburgh Gold Project provides a significant opportunity to the company for future growth in production, in addition to the company’s gold producing Dalgaranga Project.

Meanwhile, GCY stock has fallen 14.71% in three months as on August 01, 2018.

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Location of RC holes Torino Prospect Area – showing significant intersections (Source: Company Reports)

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