Beadell Resources (ASX:BDR) has intersected thick zones of high grade gold beneath the current open pit limits of the Duckhead Main Lode at its Tucano Project in Brazil.
This demonstrates the potential for an additional open pit cutback.
Notable results from the reverse circulation drilling are:
- 28 metres at 266.8 grams per tonne gold including 1 metre at 6,844.6g/t gold;
- 53 metres at 47.4g/t gold including 1 metre at 1,218.5g/t gold;
- 16 metres at 57.7g/t gold including 7 metres at 126.9g/t gold;
- 23 metres at 36.9g/t gold including 4 metres at 197.6g/t gold; and
- 14 metres at 25.9g/t gold including 1 metres at 294.5g/t gold.
A potential cutback at Duckhead is being evaluated to extract 35-45,000 ounces of gold and is likely to be completed in the 2015 dry season between July and December.
Interestingly, this is not included in the current guidance of 180,000 ounces production in 2015.
The company has also discovered a new near surface gold anomaly at Goosebumps, which is located about 500 metres east of Duckhead.
Systematic auger drilling has returned up to 1.4g/t gold bottom of hole and up to 13.5g/t gold is present in a subsequently re-assayed iron ore diamond hole.
Beadell produced 55,000 ounces of gold in the December 2014 quarter at an all-in-sustaining cost of between US$595 and US$615 per ounce of gold.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.