viewResources & Energy Group Ltd

Resources & Energy Group begins next drilling program at Menzies

Drilling will target the Spion Kopp and Lady Kathleen prospects in the Southern Zone.

Resources & Energy Group Ltd -
Exploration aims to establish gold resources for a future mining operation

Resources & Energy Group Ltd (ASX:REZ) has commenced a new drilling program to test the Spion Kopp and Lady Kathleen prospects within the Menzies Gold Project in Western Australia.

Both prospects are in the Southern Zone of the project and contain historical works and drill results with grades above 14 g/t gold.

The drilling program will target areas of known mineralisation and extensions

Southern Zone could host multiple gold deposits

REZ’s CEO Christian Price said: “There is ample evidence of widespread mineralisation across the Southern Zone.

“The historic workings, mapping, geophysical surveys and drilling results show that this area has immense potential to play a key role in our strategy to expand the resource.

“The grades in the historical production and the more recent drilling provide a basis for the further extension of this resource footprint.

“To have such an extensive landholding of this calibre and which has been exposed to limited modern-day exploration is a huge opportunity for our company.”

Prospects are 10 kilometres from Goodenough

The Spion Kopp and Lady Kathleen prospects are notably only 10 kilometres from the Goodenough deposit, which is located within a granted mining lease.

REZ recently received assays from its maiden drill program at the Goodenough gold deposit within its Menzies Gold Project.

Results featured 4 metres at 4.21 g/t gold from 124 metres at 2 metres at 5.51 g/t gold from 61 metres with grades of up to 9 g/t gold.

The results will feed into REZ’s planned update to JORC 2012 standard of the existing JORC 2004 resource of 36,850 ounces grading 2.08 g/t gold.

Quick facts: Resources & Energy Group Ltd

Price: 0.02 AUD

Market: ASX
Market Cap: $7.75 m

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