Gullewa Limited (ASX:GUL) Announces Positive Drilling Results
Drilling Summary
Gullewa Limited (ASX:GUL) announced the completion of its 2024 Phase 1 Reverse Circulation (RC) drilling at the South Darlot Gold Project and the Phase 1 Diamond Drilling at the British King Project, in collaboration with its 51% subsidiary, Central Iron Ore Limited.
The 31 RC holes, totalling 1,998 meters at South Darlot, had several significant gold intercepts, including 1m @ 9.51g/t Au and 2m @ 15.1g/t Au. The diamond drilling at British King also yielded promising results with notable intercepts of 3.00m @ 22.68g/t Au, including a high-grade portion of 0.39m @ 184.56g/t Au.
Operational Achievements
The Phase 1 programs widely expanded the understanding of the mineralisation zones across multiple target areas, including Mermaid, Sylvia, Kyneton, and Weebo North. The significant intercepts obtained (with a 0.8g/t cut-off) strengthen future prospects for resource estimation.
Quality assurance and control measures were in place throughout the drilling and sampling processes, ensuring satisfactory integrity of results was maintained, validated by ALS Laboratories.
Executive Comments
David Deitz, Director and CEO of Gullewa Limited, stated, “These results are fantastic for Gullewa and validate our exploration strategy. We anticipate further developments in the near future.”
The mineralisation at these sites reflects the consistent quality of Gullewa’s exploration efforts and could lead to substantial advancements in the region’s gold production capabilities.
Next Steps
Following the successful completion of these drilling campaigns, Gullewa Limited will undertake further testing to identify additional extensions of the resource. Future diamond and RC drilling is planned for comprehensive metallurgical, structural, and petrographic assessments.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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