GCR IOCG SA Targets – First Hole ALG001 Completed

The first hole in GCR’s IOCG drilling program, ALG001 at the Algebullcullia gravitymagnetic anomaly, has been completed at 497 metres. For geophysical target information please refer to previous ASX announcements. Basement rocks were intersected at 232 metres depth.

Hematite-altered meta-sediments and volcanics were intersected with some sericite alteration. Garnetiferous zones indicate possible skarn development. Magnetite content, as disseminations, thin veins and in clots, varied throughout the hole with increased magnetic susceptibility noted between 450 and 494 metres. Pyrite, with rare, trace chalcopyrite, occurs as disseminations. Samples have been taken for petrographic studies, bulk density determinations and assay.
While weak hematite alteration is widespread in the Gawler Craton, more intense alteration, and the presence of sericite, provides encouragement. GCR’s geologists are pleased with the outcome of this first hole, into the first anomaly, in what is an untested region in the northern Gawler Craton.

Hematite-altered and brecciated meta-sediment at 450 metres in ALG001

Hematite-altered and brecciated meta-sediment at 450 metres in ALG001

The rig has moved south to the Mount Euee anomaly and the hole, having intersected basement at 210 metres is now coring ahead. On completion, the rig will then move to drill the SR11 anomaly and, subject to a review of results, costs and budget, a decision, to return to Algebullcullia, Mount Euee, stay at SR11, or drill a fourth hole on a new anomaly at Oolgelima East, will be taken.

To download this release in full as a pdf file, please click here

Communications from HQ Mi...

Dec 8, 2015 2:12 pm

The independent directors of Golden Cross Resources Limited (ASX: GCR)...

Golden Cross Resources of...

Nov 27, 2015 3:45 pm

The office of Golden Cross Resources has moved. Principal and Register...

GCR Chairman’s response t...

Oct 15, 2015 2:42 pm

15 October 2015 Dear Shareholder, As you are aware my fellow director ...

June 2015 Quarterly Repor...

Aug 11, 2015 4:28 pm

The June 2015 Quarterly Report for Golden Cross Resources has been rel...

MARCH 2015 QUARTERLY ACTI...

Apr 29, 2015 1:59 pm

MARCH 2015 QUARTERLY ACTIVITIES AND CASHFLOW REPORT Key Points: Copper...

There is no custom code to display.