It’s early days at the Comet discovery in Victoria, Australia but despite still figuring out the complex structural controls on the project, Great Pacific Gold (GPAC) has reported more high-grade assays from early drilling.
The high-grade comet discovery is interesting not only due to the initial bonanza gold grades but also because of its location, being south of the world-famous high-grade Fosterville Gold Mine which is now owned by Agnico Eagle Mines. At various times in its illustrious history, Fosterville has been the highest-grade gold mine in the world.
GPAC Chief Operating Officer and Director, Rex Motton described some of this week’s results such as 4m at 22.3 g/t Gold, noting, “Our latest gold assays intersected stacked zones of mineralization providing us with important geological information on the potential scope of the system. Importantly, high-grade gold at depth was associated with widespread quartz veining.
Drilling has focused on understanding the controls of the gold mineralization and led to the development of a structural geological framework. This structural setting highlights several possible high-grade targets deeper and further west of the current drilling pattern, as well as along strike. We are looking forward to continuing drilling to better understand the controls on this highly prospective set of gold mineralized structures and to discover more high-grade gold mineralization.”
With the original GPAC discovery hole at Comet grading 8m at 106 g/t Gold, there is a lot of excitement about the potential of the project, but the company is quick to caution investors and speculators that exploration of an asset like this can take some time. Fosterville itself took quite a bit of drilling to figure out, but ultimately the reward was so big it was more than well justified.
GPAC continues its exploration of Comet with the company also announcing multiple newly developed drill targets based on these latest high-grade results.
