The Company is pleased to provide an update on drill assays received from the Fountain Head gold development, part of the Company’s Hayes Creek Project, located in the Pine Creek region of the Northern Territory.
Exceptional gold grades continue to be reported from recent Reverse Circulation (RC) drilling with numerous zones of mineralisation returning grades above the anticipated 0.5 g/t Au mining cut-off grade. Assay results reported in drill holes FHRC149, FHRC152, FHRC154 and FHRC156 in particular confirm high-grade continuity and mineralised extensions along modelled cross cutting and bedding parallel structures, supporting the Mineral Resource Estimate and increasing confidence in the geological model and Project economics.
New zones of broad, high-grade gold mineralisation have been intersected near surface in the area between the Fountain Head and Tally Ho mineral lodes over a strike extent of approximately 100m. In this area, historically known as ‘Ladder-Vein west’, material previously classified as waste or low-grade ore is being assessed as hosting grades that will potentially support early mining and an increase in gold resources.