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Adelaide Resources Ltd to begin drilling for gold at Eyre Peninsula


Adelaide Resources Ltd (ASX:ADN) will begin a drilling program in the first week of October, focused on the Baggy Green prospect at the company’s Eyre Peninsula gold project.

The Eyre Peninsula gold project comprises eight tenements which cover 2,807 square kilometres in the Central Gawler Gold Province in South Australia.

The program aims to build on the maiden 107,000 ounces gold mineral resource announced in July 2016 for the Barns deposit, located 5.5 kilometres northwest of Baggy Green.

The drilling at a southern target at Baggy Green will test a gently dipping zone of mineralisation where historical intersections include 11 metres at 3.55 g/t gold.

Baggy Green could potentially deliver additional resources that are both material in magnitude and which can commence at relatively shallow depths below surface.

Last month, Adelaide was awarded two PACE discovery drilling grants of up to $290,000 by the South Australian Government.

The co-funding grant will see drilling completed at Baggy Green, Empire, Barns West and Barns South - four prospects which have returned historical gold intersections.

Additionally, Adelaide is progressing the Thurlga JV with Investigator Resources Ltd (ASX:IVR) to explore an Eyre Peninsula tenement for silver, gold and other minerals.


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