Positive results flow from Steam Engine drill campaign
The first results come from 28 shallow reverse circulation holes, which the company says all returned significant gold mineralisation.
“With this initial batch of assays all returning excellent gold mineralisation from near-surface, the near-term production potential of Steam Engine continues to build,” managing director Peter Hwang said.
‘’The assay results further strengthen the current mineral resource and boosts our confidence for a positive scoping study.”
Drilling at Steam Engine to date has reached 3361m from 71 drill holes. A total of about 3500m is planned under the current extended program.
Results from the first round of assays have included 6m at 4.4 g/t gold from 30m and 15m at 2.3 g/t gold from 40m. One hole from the Eastern Ridge lode produced 5m at 3.2 g/t gold from 14m, including 2m at 6 g/t gold.
The mineral resource estimate for the project is expected to be upgraded from the current figure of 1.27 million tonnes at 2.3g/t gold.