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  • Vector Resources Finds Gwendolyn Delivers With 339 G/T Gold Intercept 0 comments
    Dec 3, 2012 8:37 PM

    Vector Resources (ASX: VEC) has found gold up grading up to 339 grams per tonne from more reverse circulation drilling at Gwendolyn East Project in Western Australia.

    Fresh from a recent 61.6g/t gold hit, assays results show Gwendolyn is continuing to give with near surface best intercepts including:

    - 11m at 49.48g/t Au from 10m, inclusive of 1m at 114.50 g/t from 12m, 1m at 339 g/t from 13m;
    - 3m at 8.82g/t Au from 0m;
    - 1m at 7.21g/t Au from 21m;
    - 12m at 4.14g/t Au from 15m

    Interestingly, Hole G352 intercepted multiple gold intervals commencing at surface with 3m at 1.75g/t Au from 0m, followed by 11m at 49.48g/t Au from 10m inclusive of 1m at 114.50 g/t from 12m, 1m at 339 g/t from 13m and 1m at 62.76 g/t from 13m.

    Other intercepts were identified at 30m, 34m - 38m, 63m - 66m and 77m down hole

    The single metre assay results received are a combination of extensional, infill and targeted drilling.

    Assay results from this drilling, has identified another high grade chute to the south of the historic pit.

    This intercept was just outside the current indicated mineralisation envelope.

    The Company is continuing to target the near surface potential in all areas and continues to expand the understanding
    of the various domains within the mineralisation envelope.

    These results and geological data received to date will be utilised to refine the geologically controlled resource model.

    Significant Upside

    Gwendolyn has the potential to increase the geological understanding of the current resource, with encouraging fundamentals including

    - High grade intercepts identified in and outside the current mineralisation envelope;
    - Targeted exploration has identified another high grade chute; and
    - Drilling will continue to target near surface potential

    Analysis

    The Gwendolyn East project has continued to produce exciting drill results throughout the drill program with the mineralisation envelope continuing to expand and identification of additional super high grade cross - structures.

    The fully diluted inferred resource is now 1,357,940 tonnes at 1.31 g/t for 57,109 gold ounces of material, giving a total of 4,215,930 tonnes at 1.58 g/t for 214,500 gold ounces.

    A total of 181,200 gold ounces have been added to the historical resource of 33,300 Au ounces in less than a year.

    The company is fast tracking activities towards potential near-term production.

    Having a large amount of material now in the indicated category gives Vector the ability to move towards mine feasibility. The company now has a global resource of 308,765 Au ounces with significant upside potential on all tenements currently reporting JORC resources.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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