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Bardoc Gold eyes transformational year ahead as PFS looms

Snapshot

The company is progressing its 3.02 million ounce Bardoc Gold Project with a PFS due this quarter.

Bardoc Gold Ltd - Bardoc Gold eyes transformational year ahead as PFS looms

Quick facts: Bardoc Gold Ltd

Price: 0.088 AUD

ASX:BDC
Market: ASX
Market Cap: $122.82 m
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Bardoc Gold Ltd (ASX:BDC) remains on track to deliver its pre-feasibility study (PFS) this quarter for its Bardon Gold Project in Western Australia.

A new 10,000+ metre resource extensional drill program commenced in December and resumed in early January with RC and diamond rigs operating across multiple deposits and prospects.

Bardoc Gold’s CEO Robert Ryan said: “We made great progress during the quarter towards the delivery of a Pre-Feasibility Study for the Bardoc Project, which is now nearing completion and on track to be announced in the coming weeks.

This will be a pivotal moment for the Company, providing the first detailed snapshot of what an integrated mining and processing operation at Bardoc will look like, whilst providing a strong commercial framework on which to proceed to our next stage of development.

PFS not based on all resources leaving upside potential

“It’s important to note that the PFS will be based on our cornerstone projects of Zoroastrian, Excelsior and Aphrodite which comprise 2.6Moz of the total 3.02-million-ounce Mineral Resource announced in the September Quarter last year.

“We see considerable upside to the study based on recent success during the quarter launched a project-wide exploration effort aimed at growing our resource base.

Positive early drill results from El Dorado

“This multi-pronged drill program, with an initial budget of around 10,000m, kicked off across a number of key satellite deposits and prospects – and has generated considerable early success.

“Results from the El Dorado prospect have been particularly encouraging, with a thick new zone of high-grade mineralisation identified at depth below the current Resource.

El Dorado contains a JORC resource of 23,000 ounces grading 1.5 g/t gold and the latest results confirm and extend the mineralisation into previously untested areas.

Latest results include 11 metres at 11.38 g/t gold from 196 metres and 19 metres at 5.77 g/t gold from 164 metres.

Recently acquired Mayday North and North Kanowna Star Projects

During the December quarter, the acquisition of the Mayday and North Kanowna Star gold projects completed, clearing the way for the commencement of maiden drilling programs.

Ryan added: “At the newly-acquired Mayday North and North Kanowna Star Projects, we also enjoyed initial drilling success, with relatively limited drill programs completed prior to Christmas delivering some very encouraging results and highlighting the potential for large-scale gold systems at each deposit.

“The excellent results we are generating keeps reinforcing the fact that many of these areas have been virtually untouched by exploration over the past two decades – so there is plenty of low hanging fruit for us as our drilling programs progress.

Further assays pending, plenty of news flow to come

“Further assays are pending from recent drilling at El Dorado, Mayday North, North Kanowna Star and the Black Flag Fault, and we are back in the field with two rigs now operating across several areas.

“Given the volume of samples being generated, shareholders can look forward to a period of substantial news-flow in the months ahead as we deliver the PFS and continue to generate exploration success and identify potential resource extension opportunities.

“All of this work will ultimately feed into an updated Mineral Resource later this year that will in turn form the basis of a Definitive Feasibility Study.”

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Bardoc Gold Ltd 'has potential to be Australia's next mid-tier gold producer'

Bardoc Gold Ltd's (ASX:BDC) CEO Robert Ryan speaks to Proactive London's Andrew Scott soon after announcing the pre-feasibility study results on its Bardoc Gold Project in Western Australia. The PFS returned a forecast average production of 135,000 ounces per annum at an AISC of $1,220 per...

on 17/3/20

3 min read