FURTHER SIGNIFICANT DRILL RESULTS - REEDY CREEK PROJECT 9m @ 5.3g/t including 4m @ 10.8g/t
Beadell Resources Limited is pleased to announce further high grade drill results from the Apollo Prospect at Reedy Creek where diamond drill hole VCRD003 intersected 9m @ 5.3g/t gold including 4m @ 10.8g/t gold (Figure 2&4). The new results from Apollo as well as new results from the adjacent Golden Dyke Prospect including 4m @ 4.3g/t gold highlight the potential of the Reedy Creek project to develop into a major new gold field with over 30km of strike potential remarkably unexplored. These new results follow on from recently announced stellar results which include a new zone of dyke hosted mineralisation in between Golden Dyke and Apollo which returned a composite result of 20m @ 14.5g/t gold from 65m including 5m @ 54.2g/t gold from 70m (Figure 2&3). This new zone of mineralisation is completely open down dip and to the north. Single metre split results from this hole as well as further diamond drilling results will be received over coming weeks. The Golden Dyke and Apollo mineralisation has now been intersected over a strike length in excess of 800m long. The mineralisation is open along strike to the east and to the west where dyke mineralisation has been recorded at the Christina Prospect several hundred meters west of Golden Dyke. Gold mineralisation at Apollo and Golden Dyke is hosted within and adjacent to numerous diorite dykes which are interpreted to form a ring dyke complex that stretches over 30km. The mineralisation is hosted in steeply dipping breccia fault zones which are preferentially focussed within and adjacent to the dykes. The results from Apollo and Golden Dyke are considered to be extremely encouraging. A major follow up drilling program will be expedited as well as initial resource modelling of the mineralisation.
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