What's Happening?
Tarrina Resources has announced promising results from its phase one diamond drilling program at the Christmas Gift Gold Project in New South Wales. The company completed six diamond drill holes totaling 1,180 meters, revealing significant gold mineralization
over a strike length of more than one kilometer and to depths of 200 meters. Key assay results include intersections of 14.5 meters at 2.23 grams per tonne (g/t) gold from 58.0 meters and 16.4 meters at 2.06 g/t gold from 75.6 meters. These findings suggest that the mineralization extends beyond the historic Christmas Gift mine, which historically produced approximately 30,000 ounces of gold at an average grade of 18 g/t between 1892 and 1941. The project is located 15 kilometers east of Cootamundra in the Lachlan Fold Belt and covers approximately 22 square kilometers.
Why It's Important?
The results from Tarrina Resources' drilling program are significant as they enhance the understanding of the gold system at the Christmas Gift Project. The confirmation of mineralization over a substantial strike length and depth increases confidence in the potential for further gold discoveries in the area. This development could have positive implications for the company's exploration strategy and future resource estimates. Additionally, the identification of multiple parallel gold-bearing structures suggests the possibility of discovering additional high-grade gold shoots, which could enhance the project's economic viability. The findings also highlight the potential for the region to host significant gold resources, contributing to the broader mining sector in New South Wales.
What's Next?
Tarrina Resources plans to conduct detailed core logging and base metal assaying, with final results expected by the end of July. The company intends to update its geological and gold grade models based on these results. Following this, Tarrina will plan further exploration activities, including aircore and reverse circulation drilling, to expand its understanding of the gold system and identify new targets for potential resource development. These steps are crucial for advancing the project and potentially increasing the company's gold resource base.
