Bardoc Gold Ltd (ADX:BDC) has received broad gold results from three recent diamond holes which confirm the continuity of high-grade mineralisation outside probable ore reserves at Zorastrian deposit within the Bardoc Gold Project in WA.
All holes hit their targets into the high-grade deposit making them easily accessed from the existing planned design and are will likely to provide an increase in ore reserves at minimal development costs.
Notable results include 15.2 metres at 3.75 g/t from 228.3 metres, including 5.1 metres at 10 g/t from 237.1 metres; 11.2 metres at 7.29 g/t from 235.5 metres; 8.8 metres at 4.3 g/t from 317 metres; and 24 metres at 2.05 g/t from 285 metres.
These results confirm both geological and grade continuity in areas that are within 40 metres of the designed mining operations, highlighting the strong potential for an increase in the probable 100,000-ounce ore reserve.
Exploration drilling has now begun at the highly prospective Mayday North Project, as exploration activities continue to ramp-up in parallel with ongoing work on the definitive feasibility study (DFS).
Managing director Robert Ryan said: “The Zoroastrian infill drilling program has delivered some fantastic intersections and, coupled with an already robust resource, we will expect to see an increase in the mining reserve as part of the DFS due for completion in Q1 2021.
“While we push towards the delivery of a DFS, our goal is to develop a project with a long operational life underpinned by a diversity of open pit and underground ore sources that will provide maximum flexibility in terms of our mining schedule and grade profile whilst reducing risk."
Shares have been 3.5% higher in early trade to 9.3 cents and are up from 4.5 cents at close on March 24.
Three cornerstone deposits
Ryan said: “The mine plan is underpinned by three cornerstone deposits in Zoroastrian, Aphrodite and Excelsior, plus a growing pipeline of attractive satellite deposits with the potential to increase mine life and further strengthen our production profile.
“Mayday North forms a key part of that plan and we have recently re-commenced exploration drilling with a clear objective of continuing to grow the resource.
“This program will also utilise the information from the recently completed GAIP (geophysical) survey as we target additional resource opportunities at this significant gold system.”
- Assay results expected from diamond core drilling outside the ore reserves at the cornerstone Aphrodite deposit;
- Results from geophysical surveys at Mayday North and North Kanowna Star, with the data being processed and interpreted;
- Results from drill testing of initial GAIP geophysical anomalies at Mayday North;
- Mayday North – pXRF results being used to interpret rock types and alteration zones; and
- Regional exploration targeting ongoing.