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The share price of Great Western Exploration Limited (ASX:GTE) spiked up by 33% from previous day’s closing price after the announcement of high-grade gold mineralisation across Harris Find and May Queen East target along with identified new high-grade gold prospect:-
- Harris Find target: 2m @ 7.75 g/t gold (incl. 1m @ 15.1 g/t) from 20m.
- May Queen East target: 2m @ 3.89 g/t (incl 1m @ 7.3 g/t) gold from 3m.
- New high-grade gold target: rock chip sampling returned 23.5 g/t gold.
The location of Yandal West prospect: -
Source: ASX Announcement 20th December 2019
Haris Find target – Harris Find enhanced the prospect to high priority after the 1m drill results combined with the rock chips verified considerable high-grade gold mineralisation. It has also validated historical drilling result of 2m @ 15 g/t - 6.55 g/t gold and 7m @ 4.31 g/t gold as well as underground sampling of 105 g/t, 10.6 g/t and 9.6 g/t.
For the same, two RC holes (HFRC102 & HFRC103) were drilled, intersecting the main gold mineralisation target zone to the south. The third hole (HFRC101) that was designed to test the gold mineralisation at depth under the workings from the foot wall, resulted in the shallower gold mineralisation dip than anticipated.
- HFRC102: 2m @ 7.75 g/t gold from 20m and 2m @ 1.38 g/t from 52m
- HFRC103: 4m @ 0.54 g/t gold from 28m
Further, Rock chips sampling preceded the historical drilling limit and continues the gold trend south to approximately 340m strike with the result as: -
- New rock chip results: 28 g/t gold, 19.8 g/t gold and 0.65 g/t gold
- Previous announced result: 2.2 g/t gold, 4.2 g/t gold, 4.19 g/t gold and 12.2 g/t gold
Harris Find long section view: -
Source: ASX Announcement 20th December 2019
May Queen East target – May Queen East completed three additional RC holes along the Harris Find Shear Zone (HFSZ), providing evidence of gold trend at least approximately 550m long that remains open along strike and at depth.
Two holes were drilled to test under a 4.19 g/t gold rock chip and the third hole was drilled to test the outcropping 31.1 g/t gold mineralisation.
- The result from two holes drilling: 2m @ 3.89 g/t (incl 1m @ 7.3 g/t) gold from 3m
May Queen East drilling plan: -
Source: Company’s Report
New High-Grade Target – The New High-Grade Target is located along the HFSZ i.e.~2km northwest strike of Harris Find. The rock chip is high grade veining of 23.5 g/t gold.
The company also commented previously that it has encountered VMS style mineralisation i.e. stratigraphy and semi-massive sulphide mineralisation. Further, it has planned a follow up drilling campaign for Harris Find and May Queen East target and evaluation of VMS potential across the Yandal West project.
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