The gold miner said it was “the strongest mineralisation seen so far” in the Never Never deposit.
The hole was drilled situated 130m below the previous deepest visible gold intercept, and pushes the down-plunge extent of the emerging discovery to 430m downhole.
Both cores are yet to be assayed.
The focus of recent drilling was targeting the lode between 400-500m downhole with a total length of 600m.
Managing director Simon Lawson said the latest hole was “wildly successful”, extending the mineralised footprint of the Never Never deposit from surface to over 380m vertical depth, a down-plunge length of over 500m, and potentially double the depth of the maiden resource.
Argonaut Capital said Gascoyne’s language and images of the core “raises expectation of a pretty good intercept”.
The Never Never Lode is a different style of higher-grade mineralisation typically seen within the Dalgaranga project and has only been defined in recent weeks.
It is 1km from the 2.5 million tonne per annum processing plant, in central Western Australia.
A resource update is targeted before the end of the year.
