Bardoc Gold Limited (ASX: BDC)
Reported more strong drilling results which highlight the scope for further growth in the gold inventory at the Zoroastrian deposit within its 100% owned Bardoc Gold Project near Kalgoorlie.
The Bardoc Gold Project has Ore Reserves of 1 M oz within a total Resource of 3.07Moz.
|Bardoc Gold||ASX : BDC|
|Market cap||A$109 m @ 6.3 c|
|Location||Kalgoorlie, Western Australia|
STRONG DRILLING RESULTS HIGHLIGHT POTENTIAL TO GROW INVENTORY AND MINE LIFE AT ZOROASTRIAN
Lodes extended at depth and along strike while high–grade in–fill drilling results show
scope to increase Ore Reserves
Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to report more strong drilling results which highlight the scope for further growth in the gold inventory at the Zoroastrian deposit within its 100% owned Bardoc Gold Project near Kalgoorlie.
The Bardoc Gold Project has Ore Reserves of 1Moz within a total Resource of 3.07Moz.
• Exploration (extensional) drilling confirms the mineralisation extends for more than 150m below the existing Resource at both the Blueys South and Zoroastrian South lodes
• Drilling also extends the known mineralisation along strike at the Blueys and Royal Mint lodes
• The latest results include:
o 6m @ 2.44g/t Au from 460m in KND210001
o 1m @ 11.7g/t Au from 466m in KND210003
o 4.5m @ 3.53g/t Au from 102m in KND210007
• Resource definition drilling returns grades which exceed those in the Resource model, highlighting potential for increases in the Zoroastrian Ore Reserve.
o 5.2m @ 4.97g/t Au from 379m including 1.69m @ 14.1g/t Au from 381.62m in KND210007
• Zoroastrian hosts underground Ore Reserves of 98,000oz @ 3.6g/t for a three–year mine life; There is a total of 530,000oz at 2.2g/t in the Indicated and Inferred Mineral Resource category
The initial drilling results have extended the known mineralisation a further 150m down–plunge from the existing high–grade Mineral Resource.
These extensions and the successful resource definition drilling results have improved the likelihood of being able to increase Mineral Resources and Ore Reserves at Zoroastrian once the resource modelling and mine planning work is completed.
Bardoc Gold – ZOROASTRIAN DRILLING EXTENDS DEPTH AND GRADE
The recent and ongoing drilling at Zoroastrian has had two key objectives:
• Extend mineralisation at depth and along strike
• Increase confidence in the material outside of Reserves.
Bardoc Gold management comments
“These results support our view that there is immense potential to grow the inventory and mine life at Zoroastrian through extensions to the known mineralization at depth and in new areas.
“The diamond drilling program we commenced in August has already confirmed the presence of mineralisation 150m below the current Resource envelope, providing strong evidence for what we have long suspected – that the multi–lode system at Zoroastrian extends at depth.
“In addition to the immediate opportunity to grow the Resource and Reserve, this also highlights the future opportunity to continue to grow the deposit from underground drilling positions.
“The results are considered particularly important because increases in the inventory and mine life at one of our three cornerstone deposits will further improve the Project’s forecast financial returns and support the optimised mine plan we announced recently.
“Drilling is continuing at Zoroastrian and we look forward to incorporating the results into an updated Resource model. This work will continue in parallel with ongoing work towards achieving a Final Investment decision by the end of this year.”
“These results support our view that there is immense potential to grow the inventory and mine life at Zoroastrian through extensions to the known mineralisation at depth and in new areas.”
Bardoc Chief Executive Robert Ryan
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