Bardoc Gold Ltd (ASX:BDC) has intersected 37 metres at 6.21 g/t gold from 90 metres in recent reverse circulation (RC) drilling outside the reserve at Aphrodite deposit within its namesake 3.02-million-ounce project north of Kalgoorlie in WA
The high-grade results show the untested potential of Omega Lode as well as the potential to grow reserves within the cornerstone 1.68-million-ounce Aphrodite multi-lode system.
As well as the 37-metre intersection which also included 13 metres at 10.94 g/t, other broad, high-grade gold intercepts were returned from untested locations.
The best other results were 7 metres at 8.95 g/t, including 4 metres at 15.07 g/t from 132 metres; and 4 metres at 5.24 g/t from 158 metres.
"One of the best results"
Bardoc chief executive officer Robert Ryan said: "The outstanding intercept of 37 metres at 6.21 g/t including an exceptional high-grade zone of 13 metres at 10.94 g/t is one of the best drilling results generated from the Aphrodite deposit to date.
“These breakthrough results clearly demonstrate the potential for significant reserve growth at our cornerstone Aphrodite deposit."
The results support nearby results from the Omega Lode reported on April 8, 2020, of 3.7 metres at 9.51 g/t from 208.6 metres.
Bardoc is confident this demonstrates potential for extensions to existing lodes and additional discoveries within the multi-lode system.
Shares have been as much as 15% higher this morning to 10.5 cents.
Aphrodite Phi and Omega Lode Cross section.
Ryan said: “Once again, a systematic and scientific approach to exploration has paid dividends with infill resource drilling delivering grades and widths well above expectation, further increasing our confidence in the geological models and identifying significant new areas of growth.
“These latest results will go into our resource update at the end of September, with the overall aim of converting our 1-million-ounce production target into JORC-compliant mining reserves.”
Ongoing drilling is planned for Aphrodite, Excelsior, Mayday North and Kanowna Star.
“With the resource infill programs now underway at Excelsior and Zoroastrian, the focus will soon turn to exploration, where we plan to embark on a 40,000-metre drill program targeting the highly prospective areas at Mayday North, North Kanowna Star, and the Black Flag Fault and Bardoc Tectonic Zone interaction,” Ryan said.
Drilling will recommence at Mayday North and North Kanowna Star upon the interpretation of the recent geophysical survey.
Bardoc Gold Project, tenement location plan.
DFS on track
There are large untested areas at Aphrodite and these results confirm there are still discoveries to be made that will positively impact the company’s definitive feasibility study (DFS) plans.
The DFS geotechnical work is on track and ahead of schedule, with metallurgical test-work progressing well.
Ryan said: “The recently completed capital raising has brought on board a number of Tier-1 Australian and global Institutions who will support the company through the completion of the DFS and into production.
“We can now look forward with confidence and to begin early pre-production works in order to achieve our vision of becoming a mid-tier gold producer as expeditiously as possible.”