Goldstar Resources hits huge Gold intercept
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Tuesday, 26 September 2006
EXPLORER Goldstar Resources has struck "one of the highest grade individual intersections ever reported in the modern era of Walhalla", following an intersection of 0.35m grading at 5604 grams per tonne at the Victorian project.
Goldstar drilling at its Walhalla gold project in Victoria.
The hole returning the high grade was from a downhole depth of 280m and is part of an overall quartz reef intercept of 1.55m. Assays for the remainder of the intercept are expected from the laboratory soon.
Goldstar said while the high grade was "not representative of the average grade of the quartz reef, the intercept highlights the high-grade nature but nuggetty style of gold mineralisation within the Walhalla Field".
The result is part of an ongoing drilling program at the Eureka Dyke Bulge at the Walhalla, and the company has confirmed a 16% expansion to the reef system and has added at least one additional reef.
The reefs within Eureka extend to a vertical depth of 350m and Goldstar said they will be further expanded "with additional drilling given that the dyke remains open at depth".
In total, the latest drilling result gives Goldstar nine potentially high-grade quartz reefs at Eureka.
The company is scheduled to start underground activities soon as part of the Eureka bulk sampling program, and will provide crucial information on the average grade and mining characteristics of the quartz reefs.