High-grade gold in rock chips at Glencoe

The Company is pleased to advise that rock chip samples taken during field mapping at its Glencoe gold deposit (“Glencoe”) have returned high-grade gold assay results and identified new gold bearing quartz veins.

A total of thirty-five (35) rock chip samples were taken from selected sites at Glencoe during geological mapping to assist with determining the distribution of gold and understanding its geological context

The majority of samples were taken from quartz veins with a strike direction (orientation) ~30° oblique to that of the main MRE gold lodes, and which have not been adequately tested by recent drilling.

The orientation of these oblique gold bearing quartz veins and their structural relationship with the main anticlinal fold zone, which hosts the majority of the currently delineated mineralisation at Glencoe, is similar to that of the high-grade Tally Ho gold lode which cross-cuts the main anticlinal zone at Fountain Head, located 3km to the South. These observations are potentially significant and highlight a new geometry of gold-hosting structures to target at Glencoe.

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2022-03-17T08:32:18+10:30