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Key points:
Strong high-grade drill results support growth at Mount Wandoo, Chillagoe Gold project (ASX:GG1)Plans to release civil drilling results and an updated mineral resource estimate soonShare price stable since listing; strategic focus on continued project de-riskingToll treating discussions ongoing with the Mangano mill to secure processing capacity
Green & Gold Minerals (ASX:GG1) is advancing its Chillagoe Gold project in Queensland, with a focus on accelerating development following strong high-grade drilling results. Managing director Quentin Hill highlights that the company’s recent quarterly report confirms significant intersections, including six metres at 11 grams per tonne and 12 metres at six grams per tonne. Hill states these high-grade findings at Mount Wandoo suggest substantial potential for resource growth and further economic development.
Hill explains that the company is targeting an increase of its current resource base, which stands at 32,000 ounces, to meet industry thresholds necessary for project viability. He adds that longer intercepts, such as 18 and 19 metres at three grams per tonne, support optimism about future expansion. Civil drilling results are expected soon, followed by an updated mineral resource estimate and the initiation of a mining study in the upcoming quarter.
Despite gold and silver prices reaching historic highs, Green & Gold Minerals’ share price has remained stable at $0.20 since listing. Hill emphasises that upcoming material announcements, including resource upgrade news and mining studies, will further de-risk the project. Discussions are also underway with the Mungana mill to secure processing capacity, providing shareholders with a near-term pathway to production and a low capital start-up.
