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Gascoyne Resources receives more positive gold assays from Dalgaranga

Dalgaranga has a resource of 1,230,000 ounces of contained gold.
Gascoyne Resources receives more positive gold assays from Dalgaranga
The latest gold results are close to surface

Gascoyne Resources (ASX:GCY) has received further encouraging gold assays from drilling at the Sly Fox prospect within its Dalgaranga Gold Project in the Murchison region of Western Australia.

The new shallow reverse circulation drill results show that grade and widths extend very close to surface in the oxide zone at the Sly Fox gold discovery. Results include:

- 27 metres at 1.6 g/t gold from 20 metres, including 9 metres @ 3.1 g/t gold;
- 32 metres at 1.0 g/t gold from 4 metres, including 16 metres @ 1.5g/t gold; and
- 19 metres at 1.5 g/t gold from 16 metres, including 10 metres @ 2.45 g/t gold.

The Dalgaranga Gold Project currently has a total resource of 29.6 million tonnes at 1.3 g/t gold for 1,230,000 ounces of contained gold.

This includes a proved and probable ore reserve of 552,000 ounces of gold.

The latest results continue to reinforce the strong exploration potential at Dalgaranga outside of the known resource, and the likelihood of extensions to mine life.

The company has also commenced preliminary metallurgical test work on the Sly Fox mineralisation to determine if it will be capable of being treated through the proposed Dalgaranga Process Plant.

Gascoyne recently completed helicopter airborne electromagnetic (HEM) geophysical survey which identified a number of additional drill targets.

Planning is currently underway to conduct initial drill testing of the highest priority targets.

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Gascoyne Resources Timeline

November 24 2016

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