ASX listed gold miner Coolgardie Minerals has unearthed a pleasant surprise at its Geko gold project near Coolgardie in WA, with grade control drilling defining oxidised “supergene” ores beyond the limits of the current open pit design.
The company conducted its first pass, close-spaced, grade control RC drilling between May and early September this year, in preparation for mining of the high-grade supergene zone, now expected within weeks.
Management said the drill program has returned a number of significant intersections above 4g/t gold, which is telling, because the Geko open pit reserve incorporates 92,000 ounces grading 1.81g/t gold.
The extension of the higher grade supergene mineralisation west of the pit design, opens up extensional drilling targets in this region which will be tested during November.
The grade control drilling has effectively confirmed the upper geometry of the high-grade oxidised ore mineralisation at Geko.
The company said the Geko open pit and mine plan is going well and on schedule, with ore parcels to be delivered to Northern Star’s South Kalgoorlie processing plant for toll treatment in order to generate an early cash-flow for the newly listed miner and explorer.
In September, Coolgardie Minerals stitched up an ore sales agreement with gold heavyweight, Northern Star that will see the ASX junior deliver up to 100,000 tonnes of gold bearing ore over a six-month period, beginning later this month.