Potential investors in Corvette Resources (ASX: COV) might have been kicking themselves today. Latest drilling results at Stingray zone at Corvette Prospect showed high grade gold intersections - not dissimilar to intersections at the giant 5 million ounce Tropicana-Havana gold deposit.
The share price was up 20% on the news.
Latest round of assays includes results of 16m at 5.6 grams per tonne gold from 116m, including 8m at 9.8g g/t gold. Another hole showed 16m at 1.2 g/t gold from 104m, including 8m at 1.7 g/t gold.
These initial assays from the Stingray Zone are part of a 6000m reverse circulation drilling program. Interestingly for investors, there is still a significant part of the 12 kilometre long anomalous prospect that has yet to be explored.
These results clearly point to potential of significant gold deposits at Corvette prospect.
Corvette is within the company’s 100% owned Plumridge Project, 250km north east of Kalgoorlie, where it holds more than 2,220km2 of granted exploration licences. Plumridge is situated on the margin of the Albany Fraser Province and within the interpreted reworked transitional margin of the Yilgarn Block, which hosts the five million ounce Tropicana/Havana gold deposit, discovered by the Anglogold Ashanti/Independence JV partners.
http://www.proactiveinvestors.com.au
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