- Vector Resources Limited (1.05 MB)
/ MEDIA STATEMENT /
Vector Resources Ltd is pleased to announce that it has received assay results from the high priority drilling of the Phase 3 reverse circulation program at the Company’s Gwendolyn East Project. Results of a further 10 holes of single metre sample assays have been received. These assay results complement the outstanding results released on the 12 March 2012 and indicate the mineralisation continues to expand to the West and North-West of the current mineralisation envelope.
The current Phase 3 program has completed drilling to hole 174 with a further 70 holes remaining in the current program. Results for holes G090-G092, G095, G099-G0102, and G0111- G0134 totalling 32 holes are currently at the laboratory pending results. Holes G0137 to G0174 are also in transit to the laboratory.
These results of these holes from the Phase 3 drill program has also continued to reveal larger bands of 0.2 to 0.8 Au g/t intercepts between the significant intercepts reported. This continuing trend supports the potential to significantly reduce the internal waste volumes for resource modelling and future mining operations.
The results reported are a combination of extensional targets to the North-West and infill holes exploring the unclassified material surrounding the current JORC resource. A table of these drill hole single assays with significant intercept results above 0.8 g/t Au is provided at the end of this announcement.
Gwendolyn has the potential to increase the current resource, with encouraging fundamentals including:
• High grade intercepts identified outside current mineralisation envelope;
• Mineralisation remains open in all directions;
• Extensional exploration will continue to push existing ore boundaries as a priority;
• Infill drilling of the unclassified material has commenced; and
• Possible parallel high grade load identified to the North-West of existing mineralisation envelop will continue to be explored.