"Spectacular Juno Diamond Drilling results delivers a new high grade gold mineralised zone
Highlights • 13m @ 42.84g/t Au from 160m, including 5m @ 102.38g/t Au • 14m @ 1.24% Cu from 236m • Further drilling underway
Excalibur Mining Limited (ASX: EXM and “Excalibur”) is pleased to announce results for the first two diamond drill holes at Juno, at Tennant Creek in the Northern Territory. This drilling represents a new discovery of a high grade gold mineralised pod geologically similar to Juno, Nobles Nob, M10 and other deposits in the Tennant Creek region. A follow up RC drilling programme is planned to test the extent of this new discovery. Significantly, the main intersection of the second hole is 80 meters outside the current resource base in the up-dip area of Juno, and there is no other drilling currently in this area. The gold and copper mineralisation intersected in hole EJD004 remains open up dip and along strike. Excalibur Managing Director Tim Lagdon said that these results are highly encouraging as this area has received limited drilling in the past, and that further reverse circulation and diamond drilling is planned to test this area more fully."
While not both diamond holes (as hinted at yesterday), discovering a new pod up dip of Juno at similar high grades is very rewarding for this part of the drilling campaign. Nice copper too.
DSE Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
