27/04/1999 - 22:00

Glengarry launches major program

27/04/1999 - 22:00

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PERTH-based Glengarry Resources NL has launched a big drilling program to consolidate its position in the Tanami Desert.

Glengarry launches major program

PERTH-based Glengarry Resources NL has launched a big drilling program to consolidate its position in the Tanami Desert. The company has announced a $1 million drilling program at its Larranganni tenements on the WA and Northern Territory border in the Tanami-Granites region.

Glengarry managing director Andrew Chapman said the aim of the program was to increase its gold resource inventory toward the 500,000 ounce mark.

The initial program of 12,000 metres of reverse circulation, 2,500m of diamond and 10,000m of RAB drilling is underway at Finch, Osprey, Albatross and Cuckoo prospects. A second phase of 22,000m of drilling will be carried out at Kookaburra, Sandpiper and Hawk prospects.

The Larranganni holding is a joint venture between Glengarry (52 per cent) and Tanami Gold NL (48 per cent), with the former opting to increase its equity to 62 per cent by contributing $2 million towards the drilling program.

The estimated resource at Larranganni stands at 2.67 million tonnes grading at 2.17 grams/tonne for a contained 186,300 oz at Kookaburra, Sandpiper and Hawk. Mr Chapman said the aim was to bring the project into production by 2000-01.

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