Reach Resources

41m at 2.01g/t Au from Surface at Murchison South Gold Project

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce assay results from the first two (2) of fourteen (14), RC drill holes at the Company’s 100% owned Murchison South gold project, near Payne’s Find, in the gold rich Murchison Mineral Field W.A (see Figure 1). The initial results broadly support the interim mineralisation model developed by Mining Plus, with high-grade mineralisation consistently associated with quartz veins within hornblende gneiss.


HIGHLIGHTS

  • RC drilling from the first two (2) holes at the Murchison South gold project has intersected high grade gold, providing initial validation of historical drilling results
  • Significant assay results include (down hole widths):
    • 25PFRC001 (Hole 1)
      41m @ 2.01 g/t from surface; including 15m @ 2.01 g/t from 2m, and
      5m @ 10.01 g/t from 36m
    • 25PFRC002 (Hole 2)
      22m @ 0.70 g/t from 33m; including 10m @ 1.05 g/t from 33m, and
      1m @1.61 g/t from 45m
  • A total of fourteen holes were drilled for 1463m at an average depth of 104m, at the Blue Heaven deposit
  • Results from the first two drill holes align with the interim mineralisation analysis completed by Mining Plus, with the holes having intercepted the main rock types and showing a well- defined weathering profile
  • Assays from the remaining 12 holes are due next week

Commenting on the results CEO Jeremy Bower said:

“These fantastic initial results give us a great start towards validation of the historic drilling and resource model at our Blue Heaven deposit. We have hit some high-grade shallow gold intervals, which align with the model, which is very encouraging, and we now eagerly await assays from the remaining 12 holes so we can get a complete understanding of our project.”

Figure 1: Murchison South Gold Project showing the Blue Heaven deposit with current and historic drilling.

The drill program comprised 14 RC holes for a total of 1463m at an average depth of 104m and collection of 1588 samples for assay. This announcement relates to the first two (2) drill holes only (Refer to JORC Table 1 Appendix A for full results and collar table from holes 25PFRC001 & 25PFRC002).

Figure 2: Cross Section.

The weathering zone is not intercepted in this cross-section but appears further south from Section 3 (Figure 1). Cross-Section 1 (Figure 2) displays multiple high-grade zones that broadly align with the existing model. Low-grade zones (yellow) envelop the high-grade mineralisation and correlate well with the new drilling.

Once all the drilling results have been received, Mining Plus will have sufficient data to interrogate the results before integrating them into their model. This will guide the next steps in optimizing pit designs at the Blue Heaven deposit and additionally will help determine the number and locations of planned diamond drill holes, which will be the source of sample material for the required metallurgical testing and geotechnical analysis.

Key Next Steps

  • Receipt of remaining assay results
  • Mining plus continue their independent mining review
  • Metallurgical test work
  • Negotiations with mining contractors and processors


Click here for the full ASX Release

This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

RR1:AU
The Conversation (0)
Reach Resources

Quarterly Activities/Appendix 5B Cash Flow Report

Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) provides its activities report for the quarter ended 30 June 2023.

Keep reading...Show less
Reach Resources

Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce that it has received high grade copper, gold and silver results up to 33% copper, 0.2g/t gold and 142g/t silver from its recently completed rock chip sampling program at the Company’s Morrissey Hill Project, Yinnetharra, W. A (Refer to Figure 4).

Keep reading...Show less
Reach Resources

Reach Resources’ Strategic Position Between Two of WA’s Mining Heavyweights

Reach Resources’ (ASX:RR1) strategic position with its Morrissey Hill project has placed the critical mineral explorer on the radar of two of Western Australia’s mining giants Delta Lithium (ASX:DLI) and Minerals 260 (ASX:MI6), according to an article published in The West Australian.

Keep reading...Show less
Reach Resources

Multiple New Lithium (LCT) Pegmatite Targets Confirmed

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) engaged globally renowned geological consultants RSC Consultants Limited (RSC) to assess the potential of the Company’s Gascoyne projects for:

  • Lithium (Li): hard rock, high grade LCT Pegmatites
  • Rare Earth Elements, Heavy and Light (HREE; LREE): clay/hard rock hosted
  • Manganese (Mn): high grade strata bound, supergene, and• Precious and base metals (Au; Ag; Cu-Pb-Zn)
Keep reading...Show less
1 ounce gold bullion bar on top of US$100 bill and Tax Form 1040.

US Capital Gains Tax Guide for Gold and Silver Investors

As gold and silver continue to prove their worth as sound investments, market participants should know how precious metals investments are taxed in the US.

While the majority of gold and silver investing comes with a certain degree of taxation, there are different levels of tax based on how market participants decide to invest in these precious metals, how long the investments are held for and the investors individual tax bracket.

Read on for a breakdown of the taxes associated with investing in gold and silver bullion, ETFs and stocks, as well as the forms involved with reporting precious metals investments.

Keep reading...Show less
Gold coin stacks with up arrow.

Gold Price Hits New Record, Breaking US$3,300 for First Time

The gold price reached yet another record high on Wednesday (April 16), breaking US$3,300 per ounce.

The precious metal has gained significant momentum since the beginning of the year. In trading on Wednesday it surged past the US$3,200 mark, climbing as high as US$3,354.10 per ounce. The price retreated below the US$3,300 mark on Thursday (April 17).

The rise comes after statements from US Federal Reserve Chairman Jerome Powell made at the Economic Club of Chicago on Wednesday. In his remarks, he said that he expects US President Donald Trump's tariff policy to negatively impact US economic growth and further fuel inflation.

Keep reading...Show less
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security. And each time the gold price rises, there are calls for even higher record-breaking levels.

Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.

Keep reading...Show less
Maritime Drills 5.5 gpt Gold over 29.8 metres, Including 73.0 gpt Gold over 1.5 metres at the Hammerdown Gold Project

Maritime Drills 5.5 gpt Gold over 29.8 metres, Including 73.0 gpt Gold over 1.5 metres at the Hammerdown Gold Project

Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to announce additional drill results from a grade control drill program at the Hammerdown Gold Project. Hammerdown is located in the Baie Verte mining district of Newfoundland and Labrador, near the towns of King's Point and Springdale.

Highlights:

Keep reading...Show less
Advancing Monument Gold Project - Exploration Update

Advancing Monument Gold Project - Exploration Update

Verity Resources Limited (ASX:VRL) (Verity or the Company) is pleased to provide an update on exploration activities and strategy at its 100%-owned Monument Gold Project, located in the prolific Laverton gold district of Western Australia. The Company is advancing a pipeline of highly prospective gold targets across the Monument Project as part of its strategy to define a larger, higher-confidence gold resource base in one of Australia’s most active gold belts. The Monument Gold Project comprises 195km2 of highly prospective greenstone, along strike of Genesis Minerals (GMD:ASX) 3.3Moz Laverton Gold Project

Keep reading...Show less
B2Gold First Quarter 2025 Financial Results - Conference Call Details

B2Gold First Quarter 2025 Financial Results - Conference Call Details

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") will release its first quarter 2025 financial results after the North American markets close on Wednesday, May 7, 2025.

B2Gold executives will host a conference call to discuss the results on Thursday, May 8, 2025, at 8:00 am PT / 11:00 am ET.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×