Gascoyne Resources Limited (ASX: GCY) shared quarterly activities report for the period ending 30th June 2023 highlights showing significant progress in exploration, growth, and corporate developments. The company continued drilling at the Never Never Gold Deposit, intersecting substantial widths and grades of mineralization both within and outside the existing resource. They made a new high-grade discovery called the "Ink" prospect, west along-strike from Never Never. An upgrade to the current Mineral Resource Estimate is underway, with strong metallurgical testwork results confirming high recoveries.
The Dalgaranga site remained on care and maintenance, with efforts to maintain the process plant for a rapid restart. On the corporate front, Tembo Capital converted a facility to equity and a gold production royalty, becoming Gascoyne's largest shareholder. John Hodder was appointed as a Non-Executive Director representing Tembo Capital. In terms of environmental, social, and governance matters, the company continued to focus on safety, reporting no lost time injuries but an increase in the Total Recordable Injury Frequency Rate. They maintained environmental compliance and addressed an incident resulting from a process water line burst with no significant environmental impacts.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
