The company said the last seven holes drilled all hit Bellevue-style quartz sulphide lodes. While assays are still awaited Draig said it had accelerated its campaign with two diamond rigs and a RC rig now in action.
Some 5000m is planned at Tribune.
Recent hits reported have included 12m grading 12 grams per tonne from 68m downhole and 0.3m at 242.gpt from 79.5m.
The Tribune lode is a Bellevue parallel structure located immediately to the west of the Highway Fault and the historic Bellevue underground mine.
It is said to be a largely untested area that is obscured by shallow transported sand cover and lake sediment.
“Drill results and the observed mineralisation from the latest drill core have confirmed the continuity of the system from near surface to 180 metres vertical depth,” Draig managing director Steve Parsons said.
“The Tribune Shear has been consistently intersected in every hole drilled so far and we are having an excellent success rate at hitting the very high-grade broad mineralised shoots.
“We have only just scratched the surface on this new discovery.”
Draig raised A$5 million in November by issuing new shares priced at 20c each.
Shares in Draig were unchanged at 18.5c in midday trade, capitalising the company at $67 million.
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