Great Western Exploration to commence high-impact drilling to test Jundee gold analogue
Great Western Exploration (ASX: GTE) reports that detailed analysis of recent diamond drilling results has provided a significantly enhanced understanding of both the nature and the structural controls of the gold mineralisation at the Ives Find prospect, located within its Yandal West gold project. The company is planning to drill an initial 10 holes to an average depth of 150 metres to test new deeper targets.
Great Western Exploration (ASX: GTE) reports that detailed analysis of recent diamond drilling results has provided a significantly enhanced understanding of both the nature and the structural controls of the gold mineralisation at the Ives Find prospect, located within its Yandal West gold project.
· Analysis of the recent diamond drilling at Ives Find has significantly enhanced the Company’s understanding of the high-grade gold mineralisation at its Ives Find prospect and is interpreting the gold mineralisation to increase down dip towards a feeder zone at depth.
· The Company believes the geological setting at Ives Find is analogous to Jundee style, highgrade gold mineralisation where the gold discovered in the granite at Jundee was part of a much larger gold system that increased with depth in the underlying greenstone rocks.
· At least 5 discrete, high-grade gold lode targets are interpreted to widen at depth and a further 5 high priority structural targets have been identified along strike.
· High impact targeted drill programme to test depth and width extensions. Drilling success would provide potential for a major new gold discovery.
· 10 hole drill programme set to commence May 2019.
The Company believes the high -grade gold mineralisation recently reported at Ives Find ASX (Release 13/02/19) may increase with depth as it converges with underlying feeder faults. The feeder faults are thought to form part of a regional scale fault zone that the granite host may have intruded.
There is also further encouraging evidence of a large gold system at depth that includes: the mineralogy of the gold is similar to other major gold systems in the Yandal Gold Belt (e.g. Jundee and Darlot), the width and intensity of the gold related alteration in the drilling and a large 1.7km x 500m area in geophysical data mapping out demagnetisation, possibly caused by gold related alteration, along the interpreted regional structure at depth.
This enhanced understanding has enabled the Company to prepare a high impact drilling programme that will target interpreted wider zones below the current shallow intersections as well as some discreet structural targets.
The Company is initially planning to drill 10 holes to an average depth of 150 metres to test these new deeper targets.