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GASCOYNE RESOURCES LTD

ASX: GCY

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Description

Gascoyne Resources is focussed on the discovery and delineation of gold and base metal projects in Australia. Following the successful float of the company in 2009, the company is now tasked with evaluating the Glenburgh gold project in the Gascoyne region of Western Australia, with a JORC compliant resource which currently stands at 520,000 ounces. Further infill and extensional drilling in 2011 should see this resource increase, providing shareholders with an opportunity to profit from this exciting development.

Glenburgh Project, Western Australia

* 300km˛ tenement area located in the Southern Gascoyne region, 250km east of Carnarvon;
* The Glenburgh Project in the Gascoyne region of Western Australia has an Indicated and Inferred resource of 21.1Mt @1.5g/t Au for 1.0 million ounces of Au from several deposits.
*Internal scoping study commenced to determine potential mining and development scenarios

Bassit Bore, Western Australia

Located approximately 120km north of Glenburgh and straddling the Dairy Creek to Cobra Road, the central tenement of the Bassit Bore Project, E09/1088 hosts anomalous gold and copper geochemistry in stream sediments and in soils along a 15km long east-west trend across the tenement. Surrounding this central tenement are two exploration licences, E 09/1750 & E 09/1751, that are held by Gascoyne to cover land with enhanced and anomalous gold in stream sediments.

Dalgaranga, Western Australia

The project contains a JORC Measured, Indicated & Inferred resource of 23.0Mt @ 1.4g/t Au for 1,019,000 ounces of contained gold.

Significant exploration potential also remains outside the known resources. On September 25th, 2013 Gascoyne announced the granting of the Dalgaranga Mining Lease.

Mt James, Western Australia

The Mt James Project is located approximately 90 km from Glenburgh and is accessed from the Landor-Mt Augustus road by limited station and mineral exploration tracks. Gold mineralisation occurs over a total strike length in excess of 8km from the West Point Prospect in the west through the Pigtails Prospect to the Clever Mary Prospect in the east of the licence. The gold mineralisation is situated within a shear zone close to the contact between altered mafic (chlorite-biotite-carbonate-pyrite) schist and felsic schists. The mafic schist has been intruded by numerous small pegmatite dykes, and also contains minor ferruginous chert and BIF horizons.

Murchison Project, Western Australia

The company’s Murchison tenements are targeting Archaean greenstone belt hosted gold deposits predominantly in the North Murchison area northeast of our 1moz+ Dalgaranga Project. Three applications are located at the northern end of the Big Bell greenstone belt. One application covers the central part of the Tuckanarra gold mining centre. Further south an application is located approximately 20 Km south of the Hill 50 gold deposits at Mount Magnet.

Higginsville Project, Western Australia

Pegging of 7 tenement applications on open ground. Located at the southern end of the Widgemooltha Dome that hosts extensive nickel deposits currently being mined by Mincor Resources and significant gold deposits in the area including Chalice to the south and Higginsville. Of particular interest within E15/1280 is the Footes Find gold deposit that was explored by Resolute-Samantha in the late 1980s and early 1990s. Subsequently gold production was undertaken from a shallow open pit as a satellite operation to the Higginsville operation.

Elphin Bore, Western AUstralia

Elphin Bore consists of two 100% owned tenement applications located 50km south of the Pilbara town of Newman just east of the Great Northern Highway.

North Perth Basin Project, Western Australia

A review of coal prospectively in the area around Mullewa highlighted potential in the area for new coal discoveries. The area was open ground so a large (200 block) tenement was applied for. It covers the northern portion of the Irwin terrace which hosts the Irwin Coal deposits (~1.1Bt of low grade coal).

Dalgaranga Update 4/11/2015


Dalgaranga Resource Grows to Over One Million Ounces

Mine For

gold

Location of operation(s)

Western Australia

Address

Level 2, 33 Ord Street
WEST PERTH, 6872, WA, Australia

Phone

(61 8) 9481 3434

Email

Website


Last Updated

4/11/2015

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.