Bardoc Gold (ASX:BDC) continues to be successful in its exploration efforts at the South Castlereagh zone which is just a few kilometers south of the larger Zoroastrian deposit which hosts a 428,000 ounce resource at an average grade of 2.1 g/t gold.
The encountered gold mineralization is relatively deep (with the headline intervals of 16.4 meters at 2.81 g/t gold and 11.9 meters containing 1.44 g/t gold starting at a depth of respectively 93 meters and 112 meters down hole, but the grade is excellent so Bardoc could have a shot at defining an open pit resource (and the high strip ratio which will very likely approach the high single digits) will be compensated by the gold grade but if the gold-bearing zones are sufficiently consistent, it’s also possible for Bardoc to consider drifting a decline down to the gold zones.
Which approach will be favored will depend on future exploration results and the size of the maiden resource estimate at South Castlereagh which is expected later this quarter. Bardoc Gold has a good shot at further increasing its gold resource from the current 2.6 million ounces to in excess of 3 million ounces which should put it on the radar of the more mid-tier and senior gold companies.
Disclosure: The author has no position in Bardoc Gold.
