Minerals 260 Drills 290 g/t High-Grade Mineralized Interval at Australian Gold Project

en.Wedoany.com Reported - On October 19, Australian mining company Minerals 260 announced the latest drilling results from its Bulablin gold project in Western Australia, reporting a high-grade mineralized interval of 1.1 meters at 290 g/t gold at the Bacchus deposit. The exploration program returned assay results from a total of 320 grade control drill holes and 53 infill and extension drill holes, totaling 37,644 meters of drilling across four deposits: Phoenix, Bacchus, Kraken, and Dicksons.

At the Phoenix deposit, grade control drilling intersected 7 meters at 10.9 g/t gold from 7 meters depth, including 2 meters at 35.4 g/t; and 21 meters at 3.4 g/t gold from 27 meters depth, including 1 meter at 52.6 g/t. Drilling also intersected 11 meters at 9 g/t gold from 49 meters depth, including 2 meters at 44.8 g/t.

Infill drilling at the Bacchus deposit returned the highest-grade mineralized interval of this program at 170 meters downhole depth, and intersected 7 meters at 4.3 g/t gold from 246 meters downhole depth, including 0.8 meters at 26.9 g/t. The company will continue drilling the high-grade mineralized zones at depth and along strike at this deposit to determine the geometry and continuity of the mineralized body.

The grade control drilling totaled 25,970 meters, while infill and extension drilling totaled 11,674 meters. Preliminary data analysis also compared 39 reverse circulation drill holes, with results showing that overall gold grades are broadly consistent with the drilling results underpinning the existing mineral resource estimate. The company plans to commence a second round of drilling to further refine the mine design, grade control program, and technical data for converting resources to reserves, and will incorporate the results into the project's definitive feasibility study.