Primary Gold PGO Coolgardie

Primary Gold (ASX:PGO) released assay results from a 2016 drill program on its Coolgardie project, and the company seems to be as surprised as we are to drill 6 meters of almost 11 g/t outside of the existing geochemical anomalies. Primary Gold clearly wasn’t expecting this, as the original purpose of that specific hole was to gather more information on the so-called splay shears which surround the cross-cutting structures.

Primary Gold PGO Coolgardie 2

As those splay shears usually lack a strong geochemical gold anomaly, nor the company nor previous exploration companies have focused too much on these zones, thinking the rock would be barren. The 57 hole drill program has been completed in December, and PGO will have learned a lot from last year’s exploration program. We aren’t necessarily too keen on moving forward towards production with the current small gold resource (200,000 ounces at an average grade of 1.7 g/t), but the higher grade zones just made everything much more interesting.

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The author has no position in Primary Gold. Please read the disclaimer

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