This quiet but industrious explorer was rerated in early trade by a monster gold intercept at the 100,000oz ‘Bulgera’ project – 16m at 7g/t from 120m, to be exact.
That intercept is probably bigger, because the hole ended in 18.5g/t mineralisation.
The historic Bulgera project in WA remains underexplored, both along strike and at depth.
That’s important, because drilling by neighbouring explorer Vango Mining (ASX:VAN) indicates that the highest gold grades are located below 100m.
“The continuity of these relatively shallow, wide, high-grade drill intersections demonstrates Bulgera’s significant potential, especially with one of the holes ending in very-high grade mineralisation at only 210 metres,” managing director Charles Schaus says.
“We are very keen to recommence drilling to test for downdip extensions of this gold-rich zone.”