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Bardoc Gold Ltd

Bardoc Gold confirms Zoroastrian potential at namesake project in WA Goldfields

Snapshot

The gold company created by a merger of Aphrodite and Excelsior has multiple lodes at depth at Zoroastrian deposit which are suited to underground mining.

A gold key

Quick facts: Bardoc Gold Ltd

Price: $0.09

Market: ASX
Market Cap: $107.91 m
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  • Aphrodite Gold and Excelsior Gold joined forces last year in a merger
  • Their combined landholdings formed the flagship project Bardoc
  • Namesake project Bardoc contains 2.6 million gold ounces at three main deposits, Aphrodite, Zoroastrian and Excelsior
  • The latest assays from Zoroastrian were reported in July and show the deposit is suited to underground gold mining
  • New CEO mining engineer Robert Ryan has strong gold mining experience, including working as a superintendent in an underground mining environment

What does Bardoc do?

Bardoc Gold Ltd (ASX:BDC) is a Western Australian gold explorer formed last year with the merger of Aphrodite Gold Limited (ASX:AQQ) and Excelsior Gold Limited (ASX:EXG).

This created a flagship 200-kilometre landholding in the North Kalgoorlie subregion known as the Bardoc Gold Project.

The North Fremantle company is led by chief executive officer Robert Ryan who joined the company in March 2019.

Ryan is a mining engineer with more than 14 years gold sector experience.

An experienced senior manager, Ryan was a previously a general manager at Norton Gold Fields Limited and a senior consultant at Mining Plus Pty Ltd.

Ryan’s CV includes stints as an underground and open pit superintendent and planning engineer at Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) (ETR:ABR) (BCBA:ABX) and a production engineer at Gold Fields Limited (NYSE:GFI) (JSE:GFI) and St Ives Gold Mine.

What does Bardoc own?

The key asset is the West Australian company’s namesake project, the Bardoc Gold Project in WA.

Bardoc’s wholly-owned flagship project hosts 38.608 million tonnes million tonnes grading 2.1 g/t gold for 2.582 million contained ounces across 12 deposits.

The majority, or 2.3 million, of those ounces are found at the Aphrodite, Zoroastrian and Excelsior deposits at the project.

Last week the company reported “spectacular” high-grade drill results from the Zoroastrian area of the project, including stand-out high grades of up to 528 g/t during extensional drilling.

General results put Zoroastrian grades at 91.9 g/t, an impressive result for the deposit north-northwest of Kalgoorlie and west-southwest of Carosue Dam.

The company confirmed down-plunge continuity outside the resource at Zoroastrian deposit.

Zoroastrian was last estimated as having 6.244 million tonnes of resources at 2.1 g/t for 428,000 ounces.

Aphrodite is the largest of the three main resource deposits at Bardoc, being 20.176 million tonnes grading 2.4 g/t for 1.563 million ounces.

Excelsior, meanwhile, has 7.728 million tonnes grading 1.2 g/t for 309,000 ounces.

Bardoc raised $12.03 million earlier this year to fast track its gold-focused strategy.

That strategy includes a commitment to building a long-term, substantial gold business in the Eastern Goldfields through exploration, acquisition and strategic consolidation.

Bardoc’s other assets include the South Woodie Woodie Manganese Project in WA’s Pilbara region and the England Gold Project in the state’s Laverton district.

Inflection points

  • Further results from Bardoc drilling in the Goldfields
  • Results from other investigations at the company’s Pilbara and Laverton area projects
  • Resource upgrades at its flagship project Bardoc
  • Scoping study and feasibility study progress
  • Significant transactions and financing milestones
  • Gold sector investment and commodity sentiment

Bardoc CEO Robert Ryan pleased with “fantastic” interception from Zoroastrian

“We’ve had some success at Zoroastrian,” Bardoc Gold chief executive officer Robert Ryan told Proactive Investors last week.

“We managed to drill down the preferred geological hosting and we’ve had multiple mineralised intercepts within the holes.

“Some of the stand-out grades of those have been 1.6 metres at 91 grams per tonne and that includes a high-grade component at nearly 600 g/t in gold, so that’s been a fantastic intercept for us.

“We also had multiple lodes intercepted in that hole, with 4 metres at 9 grams intercepted as well at 10 metres at 5 (g/t).

“It shows that this Zoroastrian deposit has multiple lodes to depth that are amenable to underground mining.”

 

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