PERTH, Australia, June 23, 2019 /PRNewswire/ — Bullseye Mining Limited, a well-established company in the Western Australian Gold Belt, has struck gold with its most recent North Laverton Gold Project on the Dingo Range Greenstone Belt. The area is an extremely gold-rich part of Western Australia, where many multi-million-ounce gold deposits have been discovered and some of Australia’s largest gold producers are located on the neighboring greenstone belts.
The greenstone belts in Western Australia host virtually all of the state’s highly valuable gold mineral resources. Bullseye’s extensive 2015 and 2017 drill program at the North Laverton Gold Project now confirms that the Dingo Range Greenstone Belt is a vastly underexplored region and holds significant potential for many further gold discoveries.
Bullseye’s 2015 drilling program, led by principal geologist Dariena Mullan, lasted almost six months and proved to be an outstanding success. The drill program involved a total of three drill rigs, which included two diamond drill rigs and one reverse circulation rig, with some of the rigs running 24-hour shifts.
Drilling took place across the three deposit areas of Bungarra, Boundary and Stirling, as well as encompassing comprehensive metallurgical and geotechnical drill programs and logging. The drill results were outstanding with gold present in the drill core and grades as high as 335 grams per ton.
The Boundary deposit has proven to be a large gold mineralized system that holds significant potential for the company. Mineralization at the Boundary deposit still remains open in all directions and also at depth. Bullseye’s 2015 drill program had numerous high-grade intercepts at depths up to 300 meters below the surface, indicating potential for underground mine development at Boundary. The company plans to undertake further feasibility works on potential underground mine development.
Following the success of Bullseye’s 2015 drilling programs, Bullseye’s board made a decision to commence an aggressive acquisition strategy to acquire further adjoining tenements on the Dingo Range Greenstone Belt.
“This progressive acquisition strategy proved extremely successful and the board is pleased to advise that Bullseye Mining Limited now owns 100 percent of the mining tenure along the entire Dingo Range Greenstone Belt, comprising in excess of 800km2 of contiguous tenure with a strike length of over 80 kilometers along the belt,” explains Peter Burns, non-executive director and founder of Bullseye Mining.
It is an extraordinary achievement for Bullseye to now control virtually an entire greenstone belt, which places the company in a very strong position for potential significant long-term growth. The company has 26 mineralized gold targets already identified along the belt that are ready for further exploration work and drilling.
For more information about the company and their work, BullseyeMining.com.au.
About Bullseye Mining Limited
Bullseye Mining Limited is a well-established company that holds the mining rights to an area of more than 800 sq. km right in the heart of the Western Australian Gold Belt. For more information, visit BullseyeMining.com.au.
North Laverton Gold Project – Dingo Range
Tenant Acquisition area
Gold Mine Sites
SOURCE Bullseye Mining Limited