$8m Kalgoorlie discovers gold mineralisation, page-2

This $8m gold minnow is only just getting better, a stock backed by Tony Locantro (Alto Securities).

A multi-bagger prospect IMO/
Dampier Gold confirms high gold and nickel values in follow-up Goongarrie drilling
The company has completed stage 2 infill auger drilling over the northern portion of Goongarrie project and results warrant further testing with aircore and reverse circulation drilling.
https://static1.*.com.au/thumbs/upload/News/Image/2020_10/672z311_1602481959_2020-10-12-16-52-39_bf256154bc63cb756b5a37bdcc13e513.jpg
Dampier’s Goongarrie Gold Project is around 100 kilometres northwest of Kalgoorlie

Dampier Gold Ltd’s (ASXAU) auger drilling at Goongarrie Gold Project in Western Australia has returned high nickel and gold values including 405 parts per billion (ppb) nickel and 90, 16, 15, 11 and 10 ppb for gold.

The company has completed stage 2 infill auger drilling over the northern portion of the project with encouraging anomalous results from infill lines on 500-metre spacing between the original 1000-metre spacing.

Goongarrie project, together with the Zuleika, Credo and Menzies gold projects, form Dampier’s Menzies/Kalgoorlie gold portfolio.
Continuity of anomalism

The infill results show continuity of the anomalism which coincides with high magnetics associated with greenstones.

This demonstrates the potential of these structures and corridors to host significant mineralisation and warrants further testing with aircore (AC) and reverse circulation (RC) drilling.

The infill drilling has accurately defined drill-ready targets including the northern anomalous zone, which appears to be hosted within granite and surrounded by outcrops of folded weathered ultramafic within the interpreted target horizons.

Granite, mafic/ultramafic contacts are typical sites for gold concentrations.
“Enormous potential”

Dampier’s executive chairman Malcolm Carson said: “These are highly promising soil results for Goongarrie following the first successful results from late last year.

“The fact that the Dampier team has discovered the strong gold and nickel anomalies over a large proportion of the tenement defined in difficult sand covering, shows the enormous potential for the Goongarrie asset.

“These results provide clear targets which warrant further auger, aircore and reverse circulation drilling, which will be included in our next drilling plan.

“The Goongarrie ‘wrap-around’ magnetic signature confirms a potential granite body in a greenstone belt which is similar to the adjacent Goongarrie greenstone structure that has produced over 30,000 ounces of gold to date.”
Strong anomalies detected

Out of 364 samples, Dampier achieved 101 results above the background gold reading of 4 ppb, which demonstrates, notwithstanding the difficult sampling environment, that there are strong gold anomalies over a large proportion of the tenement.

The tenement covers around 200 square kilometres and the auger drilling areas cover around 50% of the tenement, 33% of which has confirmed gold anomalies of above 4 ppb.

Carson said: “We are encouraged by our continuous positive results from Goongarrie and we are confident that, with targeted systematic exploring, we will unveil Goongarrie's potential and add value to our exceptional Menzies/Kalgoorlie gold asset portfolio.

“The Dampier team is committed to continue our cost-effective and measured exploration strategy, to add significant value to our existing gold assets and bring value to our shareholders.”