Bardoc Gold (ASX:BDC) seems to have grabbed an elephant by its tail at the Bardoc gold project in Western Australia. The company recently published an updated resource estimate which contains just over 3 million ounces of gold, but more gold is being discovered on a weekly basis.
Bardoc has just released a fresh batch of drill results from the El Dorado zone where it has now discovered more high-grade gold mineralization with a strike length of 155 meters below the existing resource. And ‘discovering gold mineralization’ doesn’t do the discovery any justice. While 29 meters of 1.69 g/t gold and 15 meters at 1.43 g/t gold, Bardoc also pulled an eye-catching and mouthwatering interval out of the ground with 28 meters containing 13.59 g/t gold, including an ultra high-grade interval of 6 meters at 57.7 g/t, which is almost 2 ounces of gold per tonne of rock.
Although this ultra high-grade result should be interpreted as ‘exceptional’ and should not be extrapolated, the grades, thickness and vertical depth of the other intervals of the El Dorado drilling indicate the open pit operation could be larger than initially anticipated. And this would create additional economies of scale for the greater Bardoc project as all these smaller but viable satellite deposits could add tremendous value to the overall project.
Bardoc has made considerable progress on its namesake project in the past year since Spitfire Materials and Excelsior Gold decided to join forces and combined their land packages. Bardoc is now planning to design a follow-up drill program on the El Dorado zone (which currently contains just 23,000 ounces in an official resource estimate and after seeing the recent drill results, this number will rapidly increase), but all eyes will now be on the 1.68 million ounce Aphrodite zone as drilling is expected to commence any day now.
Disclosure: The author has a long position in Bardoc Gold.
