The positive re-rating follows a bonanza grade gold intersection from drilling at the wholly-owned Mt Remarkable project, located in northeast Western Australia.
A new scissor hole at the Trudi Vein targeting a historical high-grade zone intersected: 6 metres at 37.6g/t gold from 14 metres, including 1 metre at 90.7g/t gold.
The reverse circulation drilling program covered 1450 metres, with a second phase to commence today.
This result is a game-changer for the company, as it is significantly higher than an earlier explorer at the project who reported results including: 5 metres at 15.4g/t gold at the same location.
Drilling details, more results to come
The Mt Remarkable Project is located 200 kilometres south of Kununurra in Western Australia.
Drilling has tested multiple gold targets including the extension and confirmation of historical high-grade drill results, extensions to known mineralised zones and veins, and newly discovered veins.
A limited 6 metre interval (6 x 1m drill chip samples) from the scissor hole was flown to Perth on Thursday 2 November 2017 and those assay results were received by the company on Wednesday 8 November 2017.
The balance of assay results from that scissor drilling the high-grade 6 metre zone were delivered to the laboratory on Wednesday 8th and those results are expected next week.