Green & Gold Minerals has reported compelling high-grade gold drill results from its Mt Wandoo prospect, significantly extending known mineralisation and uncovering new zones within the Chillagoe Gold Project.
- Multiple high-grade gold intercepts extending Mt Wandoo mineralisation
- Notable drill results include 6m at 11.1 g/t Au and 12m at 5.9 g/t Au
- New mineralised zones discovered outside existing resource boundaries
- Silver assay results pending, with current inferred resource at 32,400oz Au
- Plans underway for resource update and toll treatment discussions with Mungana mill
Extending the Gold Frontier at Mt Wandoo
Green & Gold Minerals (ASX – GG1) has announced a series of high-grade gold drill results from its Mt Wandoo prospect, part of the broader Chillagoe Gold Project in Queensland. The latest drilling campaign has not only extended known mineralisation but also revealed new zones of gold mineralisation, reinforcing the prospect’s potential as a significant high-grade system.
Among the standout results are intercepts such as 6 metres at 11.1 grams per tonne (g/t) gold from 38 metres depth, including a remarkable 1 metre at 44.8 g/t Au, and 12 metres at 5.9 g/t Au from 59 metres, featuring 2 metres at 32.5 g/t Au. These results highlight the presence of robust gold shoots within the deposit, some of which lie outside the current mineral resource estimate (MRE) footprint.
New Zones and Resource Growth Potential
The drilling has successfully extended mineralisation southwards and to the west of the existing resource, with holes WBR084 and WBR085 pushing the boundaries of known high-grade zones. Additionally, hole WBR042 has identified a new mineralised zone east of the main trend, previously unaccounted for in the resource model. These discoveries suggest that the Mt Wandoo system is more extensive and complex than earlier understood.
Currently, Mt Wandoo hosts an inferred JORC resource of approximately 32,400 ounces of gold and 387,000 ounces of silver. The company is actively working to update this resource estimate incorporating the new drill data, which could materially increase the resource base and enhance project economics.
Strategic Development and Infrastructure Leverage
Green & Gold Minerals is advancing plans to move Mt Wandoo toward development, leveraging granted mining leases and proximity to existing infrastructure. Notably, the company is in discussions regarding toll treatment options with the nearby Mungana processing facility, a modern gravity and flotation mill with a capacity of 600,000 tonnes per annum located just 12 kilometres from the project. Previous test work at Mungana has demonstrated high gold recoveries from Wandoo ore, underscoring the viability of this approach.
Managing Director Quentin Hill emphasized the strategic importance of these results, stating that the high-grade intercepts bolster the company’s development strategy amid favourable gold and silver price environments. He also highlighted the potential for further discoveries and the company’s commitment to ongoing drilling and resource refinement.
Looking Ahead – Silver Assays and Further Exploration
While gold assay results have been released, silver assays are still pending and expected within the next month. Given the current inferred silver grade of 13 g/t and rising silver prices, these results could add further value to the resource. Additionally, results from other nearby prospects, Sentinel and Dingo, are anticipated in the coming weeks, potentially broadening the project’s scope.
Green & Gold Minerals has also commenced a mapping and sampling program at the Nutgrove rare earth prospect, signaling a diversified exploration approach within its portfolio. The company’s methodical strategy to integrate new data, update resource models, and explore toll treatment options positions it well to capitalize on the Chillagoe Gold Project’s promising geology and infrastructure advantages.
Bottom Line?
With high-grade extensions confirmed and infrastructure options advancing, Green & Gold Minerals is poised for a pivotal phase in unlocking Mt Wandoo’s full potential.
Questions in the middle?
- How will pending silver assay results impact the overall resource valuation?
- What are the timelines and terms expected for toll treatment agreements with the Mungana mill?
- Could further drilling reveal additional high-grade shoots beyond current projections?