What’s Next for Golden Dragon After Strong Coodardy Drilling Results?

Strong Start at Coodardy

Golden Dragon Mining Ltd has announced promising results from its first phase of Reverse Circulation (RC) drilling at the Coodardy prospect, part of the broader Cue Gold Project in Western Australia’s Murchison goldfields. The drilling campaign successfully intersected high-grade gold mineralisation close to surface, confirming both the presence and continuity of a significant high-grade zone within a larger mineralised system.

Standout intersections include 8 metres at 7.3 grams per tonne (g/t) gold from 20 metres depth, 4 metres at 4.6 g/t from 16 metres, and 4 metres at 9.7 g/t from 24 metres. These results are particularly encouraging as the mineralisation lies within the shallow oxide zone, which is favourable for potential open pit mining.

Geological Insights and Scale Potential

The mineralisation at Coodardy is hosted within flat-lying, stacked quartz veins in a carbonate-pyrite altered dolerite and chlorite schist geological setting. The high-grade zone extends over a strike length of approximately 700 metres and is interpreted to plunge northwards into fresh rock, suggesting potential for depth extensions beyond the oxide zone. This structural interpretation is supported by historical mapping and recent field observations.

Golden Dragon’s managing director, Simon Buswell-Smith, highlighted the significance of owning the entire strike length for the first time in decades, calling it a “game changer” that positions the company to unlock the broader potential of the system. The continuity of high-grade gold close to surface bodes well for future resource definition and development studies.

Next Steps and Broader Exploration

Following the successful initial drilling, Golden Dragon plans to commence further drilling later this month aimed at testing strike extensions both north and south of the current high-grade zone. The company also intends to explore other advanced targets within the Cue Gold Project, including the nearby Behring Bore area, where heritage surveys have recently been completed.

The Cue Project covers a substantial land package with significant exploration upside along major regional shear zones known to host gold mineralisation. Golden Dragon holds an 80% interest in the project, with joint venture partner Bruce Legendre retaining 20%. The company is sole funding and managing exploration activities.

While these results do not yet translate into a defined resource, they materially increase geological confidence and provide a strong foundation for ongoing exploration and potential resource growth. The shallow nature of the mineralisation and its continuity are positive indicators for potential open pit development scenarios.