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Andrew Todd
Golden Dragon Mining has kicked off its next round of drilling at its emerging Coodardy prospect in Western Australia’s Murchison.
The aim is to stretch its high-grade gold zone further along strike and deeper into fresh rock, building on recent shallow hits that hinted at a promising near-surface system.
Standout hits from the company’s maiden program included an 8-metre hit grading 7.3 grams per tonne (g/t) gold from just 20m. Another thicker 16-metre section ran a solid 1.7g/t gold, alongside an 8-metre strike, which came in at a hefty 5.1g/t gold.
The shallow zones show good continuation to the north, pointing to some easily accessible high-grade ounces for the next round of drilling.
The prospect starts within Golden Dragon’s existing mining lease at Coodardy and continues into its roughly 600 square kilometres of exploration ground to the north.
‘Following delivery of our last successful results, it’s important for us to be back drilling as soon as possible at Coodardy.’
Golden Dragon Mining managing director Simon Buswell-Smith
The fact that this highly mineralised tenure now falls under a single explorer is no mean feat. Weaving together what were once scattered holdings into a streamlined story and continuous gold-rich ground leaves the Dragon ready to pounce as Chinese New Year celebrations also kick off.
The company is surrounded by producing names, including Westgold Resources’ substantial 2-million-ounce Blue Bird mine and New Murchison Gold’s recently operating high-grade Crown Prince project to the north. Not to be outdone, Ramelius Resources recently acquired the 2.5-million-ounce Dalgaranga project and WestGold’s 2.3-million-ounce projects along strike to the south.
Golden Dragon Mining managing director Simon Buswell-Smith said: “Following delivery of our last successful results, it’s important for us to be back drilling as soon as possible at Coodardy. Now having confirmed strong continuity of high-grade gold mineralisation, which remains close to surface, we are keen to extrapolate these results along strike and depth. The next phase of exploration will focus on testing extensions of this high-grade zone, mainly to the north and south, targeting areas that have seen limited previous drilling to expand the mineralised footprint.”
The Cue project lies about sixty kilometres north-west of its namesake town and is encircled by active mills.
The mining hub has historically delivered more than 35 million ounces of gold, attracting major operators and sparking a wave of fresh activity.
Should Golden Dragon strike pay dirt, a lucrative toll-treatment deal—similar to that secured by its $800 million neighbour, New Murchison Gold—could offer a fast, low-risk path to production.
Given the coherent gold-bearing structures that form some 60km of strike on Golden Dragon’s ground, which are littered with unloved gold zones, the potential for a clear and compelling high-grade resource could quickly emerge across the ground with minimal needed follow-up success.
With the drill rods spinning again on the company’s district-scale ground, the Dragon now has the ingredients and incoming results to uncover fast-track resources in a region built on gold.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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