Doray MineralsLtd. has released a maiden gold resource for the Turnberry prospectat its Gnaweedaproject in Western Australia.
The initial inferred resource totals 4.6 million tonnes at1.8 g/t of gold for 266,000 contained ounces, according to a July 20 statement.
Managing Director Allan Kelly said Gnaweeda had thepotential to provide an additional ore source within trucking distance of theAndy Well processing plant.
Doray expects further reverse circulation and diamonddrilling that is about to begin at Turnberry will increase the confidence ofthe higher grade zones.
The company is now undertaking a preliminary economic assessmentof the resource to assist with initial regulatory submissions and targetedinfill drilling to upgrade the confidence and convert it to a reserve.
Doray recently increased its ownership of the Gnaweedaproject to 100% and purchased a legacy 1% royalty that applied to the tenementsfor A$40,000 cash and the issue of 65,000 shares.