Egan Street unveils new bonanza gold hits at Rothsay

Published at Nov 7, 2018, in Mining

Egan Street Resources (ASX:EGA) has revealed more exceptional high-grade results from diamond drilling outside the current Resource at its Rothsay Gold Project in WA, including bonanza hits grading up to 776g/t gold.

The assays from the latest diamond drilling confirm that the high-grade mineralisation extends to the south on the Woodley’s and at depth on the Woodley’s East Shear, which host the current 401,000oz JORC Resource at Rothsay.

High-grade results returned from the recently completed 16-hole diamond drilling program targeting southern extensions to the Woodley’s and Woodley’s East shears:

  • 2.0m at 116.9g/t gold from 264m
    • Including 0.3m at 776g/t gold
  • 2.63m at 57.2g/t gold from 185.1m
    • Including 0.5m at 216g/t gold
    • Including 0.48m at 66.3g/t gold

These assays follow previously reported results from the same program, including:

  • 1.02m at 23.96g/t gold from 242.48m
  • 0.7m at 18.74g/t gold from 149.8m
  • 0.97m at 129.2g/t gold from 73m
  • 2.58m at 22.6g/t gold from 150.5m
Woodley's East Shears, showing significant and recent intersections
Woodley's East Shears, showing significant and recent intersections

In light of the success of the recently completed Resource extension drilling program, EGA will soon kick off work on an updated Mineral Resource estimate for the Rothsay Project, incorporating these results.

Approval and licence applications have been submitted, representing the final development approval for the Rothsay Gold Project.

Diamond core showing visible gold and returning 776g/t gold
Diamond core showing visible gold and returning 776g/t gold

Managing Director, Marc Ducler, said that EGA is continuing to pursue opportunities to grow its gold inventory at Rothsay while completing the final phase of permitting and advancing funding discussions and pre-development activities.

“The extensional diamond drilling programme targeting southern extensions of the two main gold-hosting structures, the Woodley’s and Woodley’s East Shears, has been very successful. With all of the assay results now to hand, work will begin shortly on an updated Mineral Resource.”

“We are also about to commence a major new 5,000m RC drill program targeting mineralisation beneath the historical Orient open pits, where we believe there is excellent potential to define additional mineralised positions,” Ducler added.

“Historical drilling completed in this area some 30 years ago returned spectacular intercepts of 2m at 84.12g/t gold (including 1m at 145.9g/t gold) and will be followed up as part the impending drilling program.”

“In the meantime, the permitting process is now entering its final stages, with the last two applications for approval now submitted to the Department of Water and Environmental Regulation (DWER) and the WA Department of Mines, Industry Regulation and Safety (DMIRS),” Ducler noted.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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