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Exterra Resources Ltd granted licenses in high-grade gold field

Last updated: 11:00 06 Oct 2016 AEDT, First published: 10:00 06 Oct 2016 AEDT

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Exterra Resources Ltd (ASX:EXC) has now been granted prospecting licences over the high-grade Grass Flat Gold Project in Western Australia.

Exterra has commenced a review of the project which confirmed the presence of a large number of potentially economic grade gold intercepts.

Highlights from reverse circulation drilling include: 4 metres at 9.56g/t gold, including 1 metre at 33.47g/t gold; and 7 metres at 9.20g/t gold, including 3 metres at 18.90g/t gold.

The project was identified through a review of historical exploration by previous holders.


Analysis

Exterra's strategy has a focus on high-grade, high-margin gold projects with near term production potential.

The potential has already been identified at Grass Flat.

The next steps will be highly anticipated.

 

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