Republic Gold (ASX: RAU) has followed up its recent announcement of two initial drill holes intersecting a large quartz vein - with further high grade intercepts found at Terrace Creek in Far North Queensland.
Costeaning (or trenching) FNC001, directly above the FN042 and FN060 drilling intercepts, returned 11m @ 12.97 g/t Au. FNC003 is a trench approximately 15m north of the FN042 and FN060 drilling intercepts and returned 17m @ 2.72 g/t Au, including 4m at 7.82 g/t Au.
FNC002 is a trench excavated in the direction along strike of the quartz unit, which confirmed that the quartz unit caused better than average grades and returned 15m @ 5.47 g/t Au, including 5m @ 13.66 g/t Au.
Republic has undertaken trenching, sampling and surface mapping work, in preparation for for resource definition drilling at Terrace Creek at the 100%-owned Tregoora Gold Project in Far North Queensland.
Interestingly, mapping earlier interpretations indicates potential for further high grade gold mineralisation.
There is a gold treatment plant available to Republic at Tregoora that is not owned by the Company. The plant, while in needd of refurbishment, is useable the company indicated. This forms part of the Bankable Feasibility Study (BFS).
Republic’s Managing Director John Kelly, said "there was a lot of excitement in the Company when the initial two high grade drillholes intersected this large quartz vein but we only had two dimensions. This costeaning work has added the third dimension and also an orientation to the vein. Obviously we’re very keen to get the results of this programme."
"When you’re intersecting good widths with individual grades from half to one ounce, you can quickly add ounces to your resource base. If the Company can secure the Tregoora treatment plant then the potential of a small high grade operation with low capital and operating costs is a distinct possibility before we embark on the much larger sulphide project".
No comments:
Post a Comment