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Resources & Energy Group drills 21 metres at 7.11 g/t gold, potential for large deposit

Gold at the Gigante Grande prospect opens the door to it being linked to the Kota Paxi prospect suggesting a possible 4.7-kilometre-long gold deposit.

growth concept
Further exploration is planned to evaluate this possibility

Resources & Energy Group Ltd (ASX:REZ) has drilled a significant gold intersection at the Gigante Grande prospect within its East Menzies Gold Project in Western Australia.

Drill results feature 21 metres at 7.11 g/t gold from 36 metres including 5 metres at 29.19 g/t gold and 8 metres at 6.96 g/t gold from 72 metres.

Notably, the 21-metre intersection ended in gold mineralisation of 13.84 g/t gold at 57 metres depth.

REZ CEO Christian Price commented: "Gigante Grande – Kota Paxi represents an additional mineralised region in the Menzies project with significant potential for growth.

"The large surface anomaly identified, followed up by exceptional confirmatory drilling, provides a great basis for further exploration work to expand on this mineralised footprint.”

Gold at the two prospects could be part of the same system

The Gigante Grande prospect is located 3 kilometres from the Kota Paxi prospect, where early exploration has also intersected gold anomalies.

The prospects cover over 3.5 square kilometres of anomalous gold in soil and bedrock mineralisation.

A potential connection between the two, if proved, would result in an area having a combined length of 4.7 kilometres, ranging from 150 to 500 metres in width with a surface area of close to 9 square kilometres.

Notably, a potential connection between the two bedrock gold anomalies was previously speculated by Goldfields Exploration but never investigated.

READ: Resources & Energy assays 17.49 g/t gold, more drilling planned

Further surface exploration is planned to provide more information on the continuity of the bedrock gold anomalies already identified at Gigante Grande and Kota Paxi.

A program of reverse circulation (RC) drilling is also proposed over a number of higher geochemical responses which have not yet been drill tested.

Necessary permits to facilitate these activities have been lodged and are currently being assessed.

Quick facts: Resources & Energy Group Ltd

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Market: ASX
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