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Gascoyne June 2020 production update

Gascoyne Resources June 2020 Production Update

Dalgaranga gold project: Gascoyne Resources Limited (Subject to Deed of Company Arrangement) (Gascoyne or the Company) is pleased to provide the following update on production results for the month of June 2020 and the financial year ended 30 June 2020 (FY20):

FY20 and June Quarter Production:

  • Gold production of 73,116 ounces achieved for FY20;
  • A total of 2.92Mt of ore was processed at 0.86g/t (1.04g/t in June) with a gold recovery of 91.0%;
  • June quarter production of 20,607 gold oz achieves upper end of guidance range (18-21Koz);

June Results:

  • A total of 6,909 ounces of gold produced in June, at processed grade of 1.04g/t;
  • A total of 226,996 dry tonnes were processed with 91.0% gold recovery;
  • Sixth consecutive month exceeding 6,000 ounces produced, reflecting higher grades accessed from the Gilbey’s Main Zone (GMZ);
  • Approx. 60% of ore processed was sourced from the GMZ (contributing approx. 70% of the gold), supported by high grade ore (approx. 10% of tonnes processed) from Golden Wings;

Gascoyne CEO Richard Hay said “After six consecutive months producing in excess of 6,000 ounces of gold, we have now locked in over 73,000 ounces of production for the 2019/2020 financial year. The second half of FY20 has shown that Dalgaranga can produce consistently and reliably now that we have secured access to the Gilbey’s Main Zone. Credit must be given to the dedicated team effort on achieving this excellent result.”

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