Hardey Resources Limited (“Hardey” or “the Company”) (ASX: HDY) is pleased to provide an update on exploration activities across its portfolio in New South Wales and Western Australia. As per the ASX announcement 14 February 2018, Hardey has a significant exploration budget for the remainder of 2018. The Company has undertaken a strategic review of its assets and is planning the following exploration activities focusing on gold and copper projects within the portfolio.
Grace Gold Project, WA
Discussions are progressing for heritage surveys to be completed in June/July this year, which will enable site access and permit drilling in the September quarter. Drilling will focus on identifying extensions to the existing resource of 1.59Mt at 1.35g/t Au for 69,000oz of contained gold (see ASX release 19 February 2018).
The Grace project area is located approximately 25km south-east of the Telfer gold mine in Western Australia. Grace oxide mineralisation is variably open along strike and at depth and is associated with shallow dipping en-echelon stacked vein sets and a large vertical stockwork of hydrothermal breccias along the Grace-Bemms shear. At the Grace deposit, high grade primary gold remains open in all directions and the relationship with further high grade copper mineralisation remains prospective. Drilling is generally shallow and any deeper drilling is broad spaced. As such, many holes stop within the mineralised zone and haven’t adequately tested the continuity of gold mineralisation at depth.
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