High Grade Gold Intercepts Continue at Gwendolyn
Perth, Aug 17, 2012 AEST (ABN Newswire) - Vector Resources Limited (
ASX:VEC) is pleased to announce that it has received further assay results from the priority drilling of the Phase 3 reverse circulation (RC) program and initial deep holes from Phase 4 targeting the potential mineralisation conduit at the Company's Gwendolyn East Project in Western Australia.
The single metre and four metre composites received are a combination of extensional and infill drilling. These results identify that the mineralisation envelope continues to expand.
The exploration team have been testing areas to the south east of the historic open pit and to the south west of the known mineralisation envelope at depth while completing the infill drill pattern within the mineralisation envelope.
The company as part of the Phase 4 program have been targeting the western extension at depth with holes planned to depths of 250 metres. Previous drilling on the south west limb indicated that the mineralisation envelope was steepening to possible sub-vertical angles at depths greater than 130 metres. Ten holes were planned to test this theory as it had the potential to identify the main conduit of the mineralised fluids during the formation of the deposit.
If these designed holes intercepted mineralisation at the target zone then Vector intends to continue to explore this possible conduit with the aim of identifying the main feeder zone of the gold mineralisation. Partial results of seven of these holes have been received from the primary laboratory Aurum and the umpire laboratory SGS. The geology of these holes has shown that there is a large band of approximately 23 metres of material previously identified at Gwendolyn as being gold bearing at depth. In particular hole G275 appears to have hit the upper levels of this potential conduit, with significant grade identified on the hanging-wall of the intercept.
With continued drilling of this area the Company hopes to confirm that the mineralisation envelope is steepening at depth. This change in the dip at depth is more acceptable to conventional long-hole open stoping mining methods for future underground mining scenarios.
Other results relate to infill drilling and extensional drilling on the north west and north east of the open pit. The Company currently has over 82 complete holes awaiting assay results which will complete the Phase 3 infill drilling and continue to expand the Company's understanding of the potential extension of the mineralisation envelope in multiple directions.
The Phase 3 drill program is now complete with the Phase 4 program continuing without any delay, drilling extensional targets in all directions of the known mineralisation envelope.
Significant Upside
Gwendolyn has the potential to increase the current resource, with encouraging fundamentals including:
- High Grade intercepts identified outside current mineralisation envelope and remains open in all directions;
- Extensional exploration will continue to push existing ore boundaries as a priority;
- Potential high grade conduit identified at depth; and
- Substantial assay results pending.
To view the complete Vector Resources announcement including Tables and Figures, please click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-VEC-600524.pdf
Contact
Vector Resources Limited
T: +61-2-6389-5750
E: contact@vectorresources.com.au
WWW: www.vectorresources.com.au
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