WCM just reported that abundant visible gold has been panned from the eastern end of the Southern Gold Zone (SGZ). This new outcrop extends the SGZ to at least 2500 metres with visible gold identified at three locations over 2200 metres.The SGZ is 400 metres south of the inferred Aucu gold resource of 156,000 ounces (1.2Mt at 4.2 g/t) and is easily accessible from existing tracks. The new zone will be targeted in the upcoming drilling program which is planned to significantly increase the current inferred resource.Managing Director Todd Hibberd commented that, “The Company has now identified three major mineralised systems, each extending over 2500 metres and each containing visible gold at SURFACE in more than one location. The upcoming drill program will enable us to conduct first pass drilling of this new zone while also extending the foot print of the existing high grade deposit”.
“We now believe that deposit has the potential to contain several million ounces based on the rock sampling, trenching and drilling to date.”
Saw a spike today on news and it settled back to 1c. Should be good for a more controlled ascent on news from here.
