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extend the high-grade Hibernian deposit
zone. Recent intersec- which has previously
tions include 13m @ 2.1 returned intercepts of
g/t gold and 44m @ 1 14m @ 71.7 g/t gold,
g/t down plunge of the 34m @ 14.8 g/t, 8m
life-of-mine pit design. @ 11.4 g/t and 2m @
Hay is also optimistic 147 g/t.
about near-term pro- Hay ruled out the
duction opportunities at possibility of Glen-
the Sly Fox and Plym- burgh and Mt Egerton
outh satellite deposits, being considered as
both within 1.5km of the potential satellite re-
processing plant. Plym- sources for Dalgaran-
outh is expected to be ga due to the tyranny
developed into an open of distance, but he be-
pit in the not-too-distant lieves Gascoyne has
future, while Sly Fox is the capacity to deliver
shaping as a potential a second processing
underground source. centre when the time
While it is not on his is right.
immediate agenda, Hay “It needs to be a
believes the various standalone operation
pieces of the puzzle are in its own right and
all coming together for Dalgaranga processing manager Lerisia Smit could become a sec-
Dalgaranga to become ond production hub
a potential processing for us,” Hay said.
hub for stranded assets in the district. alous zone has already been delineated “We need to do an exploration pro-
“We’re strategically and fortunately on the Tanqueray structure. gramme and a resource definition pro-
placed to the west of Mt Magnet and Briefly swapping his manager’s hat for gramme, both at Glenburgh and at Mt
we’re the only plant near to a number of the geologist’s cap he wore at the start of Egerton, to build the resource estimate up
smaller mineral resources that could po- his long career in the mining game, Hay to circa 700,000oz from the 500,000oz we
tentially be fed into Dalgaranga…but our said it was particularly pleasing for Gas- currently have to give us that opportunity
No.1 focus remains organic growth,” Hay coyne to now be in a position where it can to look at feasibility studies for future de-
said. tip funds towards exploration after years velopment.
“We have 1,000sq km of exploration having to prioritise operational patch-ups “There is an opportunity up there for us
tenure around Dalga- over the drill bit. to look at other resources around the re-
ranga, that’s our No.1 “We have a fan- gion for a ‘hub and spoke’, very similar to
focus at the moment tastic growth pipe- what Ramelius [Resources Ltd] does, but
and it’s why we’ve It’s about line in front of us at the moment our focus is on Glenburgh
doubled our explora- “ seeing where that previously was and Mt Egerton.”
tion budget [to $6.3 just starved of cash,” Gascoyne also owns the Mumbakine
million] for this finan- the opportunities Hay said. “We’re now Well tenement adjacent to Capricorn Met-
cial year.” are and giving generating operating als Ltd’s upcoming mine at Karlawinda.
Gascoyne is on track free cash flow which, The company has previously noted simi-
to put down about those people the as a board, we’re larities in the geological settings on its
70,000m of drilling into very keen to reinvest ground to those observed in the 2.1 moz
its various properties chance to develop to develop and grow Bibra deposit currently being developed by
in FY2021, including with a mentor who the organisation.” its neighbour.
some 25,000m at Dal- Gascoyne has It is not beyond the realms of possibility
garanga alone across can assist with that more than 30 tar- that Gascoyne could soon join the exclu-
the March and June understanding of gets in its portfolio sive 100,000 ozpa gold producer’s club.
quarters. which are screaming As Hay stressed, the current 80,000 ozpa
Tanqueray, about what leadership is to be drilled, accord- output at Dalgaranga is the “absolute base
2km from the process- all about. ing to Hay, including case” and opportunities to boost that pro-
ing plant, continues to the Glenburgh and duction capacity are under investigation.
emerge as the lead Mt Egerton regional “Our production profile at the moment
greenfields explora- exploration projects, looks at the next four years and, impor-
tion prospect following a recent intersec- about 300km north of Dalgaranga. tantly, that is without drilling another hole to
tion of 9m @ 7 g/t gold (including 3m @ Glenburgh hosts a resource of 16.3mt extend mine life or, ideally, finding a high-
15.8 g/t) which is just 300m west of a bo- @ 1 g/t for 510,000oz and sits on a granted grade source,” Hay said.
nanza hit of 8m @ 373.5 g/t previously mining lease. Drill rigs are due on site this “That gives us enough time to explore or
drilled in 2018. month for both exploration and resource look at other opportunities, possibly M&A,
Follow-up drilling was under way at the definition programmes. in the region to bring in higher grade ma-
time of print to test the Tanqueray trend Mt Egerton, about 180km north-east of terial which will then give us the chance
beyond a 150m depth. A 5km long anom- Glenburgh, also contains the high-grade to press towards that 100,000 ozpa mark

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