What's Happening?
Gorilla Gold Mines has announced a significant discovery at its Vivien Gold Project in Western Australia. Drilling at the Vince prospect revealed a high-grade gold intercept of 2.1 meters at 55.4 grams per tonne. This discovery is located on a parallel
structure to the main Vivien mineralization, 400 meters north of the historical Vivien Main underground mine. The company plans to commence de-watering of the underground mine, which will facilitate further exploration and potential redevelopment.
Why It's Important?
This discovery highlights the potential for additional high-grade mineralization at the Vivien Gold Project, which could enhance the project's economic viability. The find could attract further investment and exploration interest in the region, contributing to the local economy. Additionally, the discovery supports Gorilla Gold Mines' strategy to expand its resource base and increase its production capabilities.
What's Next?
Gorilla Gold Mines plans to conduct follow-up drilling at the Vince prospect, with a rig scheduled to return in August. The company will also proceed with de-watering the underground mine, which will allow for better access and assessment of redevelopment opportunities. These steps could lead to increased resource estimates and potential production expansion.
