Resumption of Drilling Operations at Springfield and Gigante Grande Prospects

Resources & Energy Group Limited (ASX:REZ or the Company) are pleased to advise that drilling operations at the Companies Springfield and Gigante Grande prospects recommenced on 11th December. The Company is taking advantage of rig availability which has emerged for a short program prior to the Christmas shutdown.

Discussion

The Springfield drilling program has been designed to follow up previously reported anomalous Nickel, Cobalt, Chromium, Zinc, Copper and Molybdenum results obtained from the initial Springfield scout program. This included the following peak down the hole assays (1):

• SFRC01‐1m @1.78% Ni, 0.21% Cr, 5% S (2), 269ppm Mo and 245ppm Cu from 98m.
• SFRC04‐1m @ 0.5 % Ni, 0.19% Cr, 4.4% S, from 88m
• SFRC05‐2m @ 1.02% Ni, 0.6% Cr, 0.4% Zn, from 29m and 2m @ 1.1 % Ni, 1% Cr (3), 0.49% S, 0.45% Zn, 0.07% Co from 36m, included within 9m @ 0.8 % Ni, 0.62% Cr, 0.31% Zn from 29m

The Springfield area was identified by the Company following a review of historical exploration and gold mining activities. The documented occurrences of sulphides north of Springfield at Cepline, are prospective features for the occurrence of magmatic nickel sulphides, volcanic exhalative nickel sulphides and base metals deposits as well.

A total of 6 holes for an advance of 750m has been planned for Springfield. If time permits a further two holes will be drilled at Gigante Grande, where operations are investigating a large granite hosted gold system. These holes are part of a broader program of work which is being developed for the Gigante Grande prospect for implementation in early 2022.

Exploration completed by the company at Gigante Grande has intersected some impressive aggregate (4) intervals of gold mineralisation, refer Figure 1. These include:

• 20EMRC12 ‐65m at 1.72gt/au from 71m (5)
• 21EMRC01‐ 35m at 0.7gt/au from 11m and 19m at 2.51gt/au from 56m (6)
• 21EMRC04‐ 93m at 1.47gt/au from 28m (6)
• 21EMRC05‐ 115m at 1.33gt/au from 18m 6)

The program is expected to take approximately 7 days to complete with results becoming available in mid‐January 2022.

Read the full announcement here.

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