New Ballarat Gold Corporation (NBGC) reported “extensive gold confirmed” from diamond drill results at the Berringa gold mine joint venture (JV) project in Victoria, Australia.
POTENTIAL
Partners comprise Red Rock Resources plc (51.1%) and Power Metal Resources plc (49.9%).
The limited 988m inaugural drill programme of six holes aimed to test three potential sites of South Birthday, Berringa Syndicate and Kangaroo zones for further evaluation.
‘NUGGET EFFECT’
Four holes encountered “visible gold mineralisation” while all drillholes returned gold mineralisation in laboratory assay test results.
Drillhole BE23D002 returned 5.2m at 2.38g/t Au including 0.2m at 34.76g/t Au,
Drillhole BE23D006 which returned 3.5m at 5.43g/t Au including 0.7m at 23.9g/t Au.
The drillhole “exceeded expectations” by intersecting a more than 30-metre-wide quartz reef intersection approximately 100 metres east of the main Berringa line of workings.
The hole was ended while still in mineralisation and so is open at depth, added NBGC.
The JV will need to conduct further drilling because of the “nugget effect” typical of the area resulting in variable grades.
NBGC’s technical team is completing a detailed review of all new drillhole data and inputting all geological and structural data into 3D modelling software.