EganStreet Resources Ltd (ASX: EGA) believes new high-grade gold intersections from its Rothsay project in Western Australia will help deliver on its strategy to increase its 401,000-ounce resource.
A 30-hole reverse circulation (RC) drilling campaign delivered up to 12.3 g/t gold during testing of the upper zone of the Woodley’s northern extension and the Clyde North and Miners Shear gold mineralisation.
EganStreet’s 1-metre at 12.3 g/t gold result was found in one of six intersections taken from Miners Shear.
The 12.3 g/t intersection was in a similar position to a previous 1-metre intersection from 237 metres that graded 7 g/t gold but drillers did not intersect the same shear.
Five RC holes were also drilled on the Clyde Shear but did not intersect significant mineralisation.
EganStreet said it believed additional geological interpretation of this shear was required.
Drilling to continue
Drillers will continue their efforts at Clyde Shear near northern Proterozoic dykes that have historically been home to significant shallow intersections.
Another 28 holes are being drilled at the two shears, with the company saying a significant 42-hole, 6,700-metre campaign would start next month and also take in the southern portion of Woodley’s Shear.
Positive Woodley’s results
Nineteen RC holes were drilled under the Woodley’s northern extension program, as the Perth-based company set out to extend the main Woodley’s Shear resource to the north.
EganStreet said the drilling had delivered positive results and indicated there was a potential moderate north plunging trend that extended 200 metres past the current resource.
Highlight intersections include 2 metres at 26.3g/t gold from 33 metres; 1 metre at 5.2g/t from 67 metres; 1 metre at 4.5g/t from 96 metres; and 1 metre at 4.2g/t from 61 metres.
EganStreet said an infill drilling program was needed to confirm the “positive trend”.