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Bardoc Gold development plans enhanced by strong infill drilling results

The company plans to undertake metallurgical test work to determine the optimal amount of gold and revenue that can be generated from the long-life Aphrodite open pit and underground mines.

Bardoc Gold Ltd - Bardoc Gold reports strong in-fill drilling results at Bardoc Gold Project
Nine composite samples from the drilling will be tested

Bardoc Gold Ltd (ASX:BDC) is making strong progress with development plans for its 100%-owned 3.02-million-ounce Bardoc Gold Project (BGP) in WA's Eastern Goldfields.

Enhancing its plans have been high-grade results from infill and metallurgical deep diamond drilling on the project’s cornerstone 1.68 million-ounce Aphrodite deposit.

Assay results include:

  • 22.6 metres at 4.54 g/t from 202.4 metres including 6.5 metres at 11.25 g/t from 206.5 metres
  • 18.1 metres at 5.05 g/t from 322.7 metres including 8 metres 9.51 g/t from 324 metres
  • 6.9 metres at 4.72 g/t from 107 metres
  • 7.1 metres at 5.12 g/t from 203.5 metres

Bardoc Gold chief executive officer Robert Ryan said the successful infill drilling program at the Aphrodite deposit highlighted the quality and robustness of the deposit, confirming the resource model and grade while also providing key metallurgical samples which would allow the company to progress its definitive feasibility study (DFS).

He said: “The strong drilling results from one of our cornerstone deposits further increases our confidence in the robustness of the pre-feasibility study released last month.

“Against the backdrop of a strengthening Australian Dollar gold price, the economics of the Bardoc Gold Project continue to show that it is one of the best undeveloped gold projects in Australia."

Metallurgical test work

From the seven drill holes for 2,016 metres, a total of 26 intervals will be selected and then combined to form nine composite samples.

The samples will be high-grade and low-grade taken from different lithologies to determine the variable metallurgical characteristics (if any) in the ore zone, which will allow for a higher level of understating of the flotation requirements for the processing plant design.

It will also generate samples of gold concentrate which will allow the company to continue to negotiate off-take contracts with commodity traders.

Bardoc Gold expects that the test work could be completed by the fourth quarter of 2020.

COVID-19 impacts

COVID19 procedures for travel to and from site and for site-based activities have been implemented to maintain social distancing while conducting office and field activities such as sampling and core logging.

Strict social distancing measures have been implemented in the company’s head office in Perth, with most personnel working from home where possible.

Ryan said: “Over the past few weeks, the COVID-19 outbreak has had a profound impact on everyone.

“In light of the volatile conditions being experienced in equity markets and the significant restrictions imposed by governments around the world, we have implemented some prudent measures designed to protect our strong balance sheet and ensure we are well placed to benefit from the post-COVID-19 recovery. “

Bardoc Gold Project, tenement location plan

DFS progresses

In light of government restrictions on the movements of personnel and the volatility of capital markets, Bardoc Gold has implemented a work program which will see all non-essential spending across the company deferred while at the same time facilitating the continued development of the project.

Ryan said: “We have restricted or deferred spending on non-essential exploration and resource development drilling, while continuing to prioritise the necessary works program for the DFS, in order to realise our vision of becoming a mid-tier gold producer.”

Next steps

The company plans to begin engineering studies that will allow it to advance the DFS over the coming months.

Resource definition drilling will be focused on converting mineral inventory to mining reserves in the first five years of the proposed mining plan.

Desktop geological studies, as well as geophysical surveys, will be conducted at Mayday North and Kanowna Star to generate exploration targets for drill programs, which will now be delayed until later in the year.

Assay results are also pending from recent drill programs at Zoroastrian and Mayday North.

Quick facts: Bardoc Gold Ltd

Price: 0.087 AUD

ASX:BDC
Market: ASX
Market Cap: $121.43 m
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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

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