Sirius Resources (ASX:SIR) has made a gold discovery at its Baloo prospect near Coolgardie in Western Australia reporting thick, high grade, near surface gold in bedrock with grades up to 8.8 grams per tonne gold.
Sirius was using an aircore drilling rig in late 2014 and results returned confirm the best zone of gold mineralisation yet identified on the Polar Bear project.
The intersections are thick providing the excitement including 49 metres at 2.69 g/t Au from 8 metres to end of hole including a 33 metres at 3.81 g/t gold intersection.
Baloo is part of the larger Polar Bear nickel sulphide project and in a region with a history of gold discoveries; this looks to be a cracker given the tenor of the results.
The prospect is located 10 kilometres from the Higginsville operating gold mine in a district which has had about 30 million ounces of gold discovered in relative proximity to the north, south and west.
Adding fuel, the discovery is on unexplored ground on tenements recently granted to Sirius after a 15 year application period.
It may have other juniors re-checking their tenements in the region and is good news for the sector as well as higher AUD gold price.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.
