Maiden RC drilling program at Bulong confirms previous work
21/05/18 - Current Price: $0.28
The aim of the maiden drill program at Bulong
- BC8 has released the first results from its maiden drill program at the Bulong Gold Project located 25km east of Kalgoorlie in Western Australia.
- BC8’s initial focus was to drill and study the economics of developing an open cut gold operation at Queen Margaret, within a project otherwise showing potential for a narrow-vein, high-grade underground mining environment.
- The development of an open pit operation would enable BC8 to generate a cashflow whilst undertaking development to establish a suitable position for an underground portal to access narrow-vein, high-grade mineralisation at depth.
- The first phase of the program was to verify the historic geology interpretation and grade information along the Queen Margaret corridor on a number of prospects and to extend the previous known mineralisation envelopes.
- Information gathered in this first part of the 2018 drilling program will be used to refine geological models and inform drill targeting for a Phase 2 program to begin in June.
- Previous drilling programs in the area around Queen Margaret included 3m @9.94g/t Au from 22m and 2m at 34.84g/t from 48m.
- BC8 believe the recent drilling to date at Queen Margaret, totalling 58 holes for 3,801m with an average depth of just 60m, has validated the conceptual 3D modelling and confirmed the structural position of the previously intersected gold mineralisation.
- Best results include 3m@ 116.3g/t Au from 0m; 4m @ 9.16 g/t from 33m and 4m @5.99 g/t from 42m.
- From a geological point of view, the drilling has confirmed the high-grade potential of a porphyry unit that sits in the footwall of the Queen Margaret Mine. Historic workings only exploited the Hangingwall position of the porphyry and ignored the footwall contact and numerous veins within the porphyry body itself.
- BC8 site plentiful veins within the porphyry body and a mineralised footwall position, both open along strike and down dip.
- Refining of the model will now commence with a view towards starting the next phase of drilling at Queen Margaret in June.
- Drilling of the Queen Margaret Deeps is slated to begin in September 2018.
This Research report, accurately expresses the personal view of the Author.
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