Special Report: REZ fast-tracks RC drilling program to drill test large gold anomalies recently identified at their Kore-Demeter and Chronos prospects within the East Menzies Gold Project near Kalgoorlie.
Resources and Energy Group (ASX: REZ), a Western-Australian gold explorer, have announced accelerated plans to start reverse circulation (RC) drilling next week following solid results from their recent air-core drilling campaign at their historic East Menzies Gold Project.
Located in in the historic Menzies Goldfields in WA, 130km north of Kalgoorlie, the Project is an advanced exploration play with a rich history of gold mining. In a booming gold market, with a current market cap of ~$9m, REZ appears to offer plenty of leverage to drilling success.
In particular, REZ has decided to fast-track its RC drilling campaign following positive air-core drilling results indicative of a major mineralisation zone along the east side of the Project area which was previously unrecognised due to being undercover.
The recent unlocking of a whole new area by REZ, to the east of the historic East Menzies Gold Province, compliments the high-grade results on the western part of the goldfield where two historical, high-grade gold open-cut pits were previously mined.
REZ’s upcoming RC program will include 26 holes totalling 2600m of drilling, and is expected to be completed in September.
The focus of the campaign will be on drill testing large gold in regolith anomalies identified during the latest air-core drilling program at their Kore-Demeter and Chronos prospects, which delivered results of up to 6.7 g/t and outlined large multiple zones of (+100ppb) gold mineralisation in the regolith. These anomalies are almost exclusively located within Saprolite-Transitional zone which typically rages from 20-30m depth.
At Chronos, mineralisation is related to quartz-veining within sheared basalts and dolerites, at or in close proximity to mafic-felsic contacts. The mineralised trends have a north-easterly strike and are bound east and west by the Springfield-Venn Corridor.
The Kore-Demeter prospect is interpreted as structurally controlled gold mineralisation associated with quartz filled brittle-fracture shearing which originated from mafic schists and carried into the adjoining granite. This concept serves as a model for granite-hosted deposits, which have analogues with the Golden Cities gold deposits (1.4M oz Au) located between Paddington and Menzies.
The RC program will drill deeper into the fresh bedrock to test potential for higher grade mineralised systems below the regolith, which the company is confident may lead to an economic gold discovery.
With REZ essentially doubling their focused gold target footprint in the East Menzies Goldfield from their recent air-core drilling program, the upcoming RC drilling will provide yet another key step forward in the Company’s search towards unlocking a major deposit famously spoken about for generations in the region.
This article was developed in collaboration with Resources and Energy Group Ltd, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.