Fed tests gold upleg
Gold’s outlook and fundamentals remain really bullish.
Bullseye Mining announced that it is planning to use modern-day exploration techniques to discover what lies underneath the historic gold shafts atop of the Hurleys gold deposit in Western Australia.
According to the miner, the shafts have been lying abandoned since the Second World War, with only occasional small-scale prospecting by those fascinated with the sheer dearth of hard, physical work and preservation shown by the mid-century Gold Rush prospectors.
The company expects to encounter some remaining shallow gold mineralisation at the shafts
These ‘trenches’ are located within a 5-kilometre radius of Bullseye’s flagship North Laverton Gold Project or NLGP on the Dingo Range Greenstone Belt. They became a significant drill target during the company’s latest drilling campaign.
“The Bullseye exploration team expects to encounter some remaining shallow gold mineralisation at Hurleys and wants to test for any deeper in-situ gold mineralisation that may be present, that the earlier prospectors were unable to access,” the company explained in a press release. “Gold mineralisation at Hurleys has been encountered by Bullseye at shallow depths with results including 6 metres @ 2.94 g/t gold, 12m @ 3.30g/t gold, 8m @ 3.60g/t gold and 9m @ 2.27g/t gold.”
The plan is to include the gold mineralisation at Hurleys into the NLGP mining reserves to extend its life of mine.
Bullseye said it will also continue to do extensive drilling at and around the NLGP, in parallel to advancing the design and development of its on-site NLGP gold production plan.
