Highlights

  • First phase of aircore drilling at Horse Well JV completed
  • Presence of a major mineralised structure at "Dusk til Dawn" confirmed with results up to 8m @ 7.99 g/t Au
  • Broad spaced drill traverses across the T-06 magnetic anomaly return highly anomalous gold results
  • Follow-up RC and aircore drilling commenced

In May 2014, Doray signed a farm-in Agreement with ASX-listed Alloy Resources Limited (ASX:AYR, "Alloy") over the Horse Well Gold Project within the Millrose Belt which shares a number of similarities to the highly endowed Yandal Belt immediately to the west.

The recent drilling tested a number of targets with analogies to the Granny Smith and Jundee gold deposits and has provided impetus for a follow-up drilling campaign which has recently commenced.

Dusk til Dawn Aircore drill testing at Dusk til Dawn, along strike to the northwest from ACDD001, has now been completed. This program was part-funded through an Exploration Incentive Scheme (EIS) grant from the Western Australian Government.

Three lines were drilled immediately northwest of ACDD001 at approximately 200m intervals with holes collared "top to tail" along the lines in order to achieve 100% drill coverage (Figure 1). A total of 64 holes were drilled for 2908m. Many of the holes intersected strongly foliated intermediate volcanics adjacent to the granite contact, with significant pyrite, biotite and silica alteration observed.

An intersection of 8m @ 7.99 g/t Au was returned from hole DDAC054 (60m – 68m) from within weathered intermediate volcanics adjacent to a granite contact. Bottom of hole chips from DDAC054 and adjacent holes indicated a zone of strong shearing. This mineralisation is consistent with other observations from Dusk til Dawn and occurs immediately along strike to the northwest from the significant interval in ACDD00.

Two holes intersected what appears to be a parallel zone approximately 250m west of the main zone. DDAC044 and DDAC062 returned intervals of 8m @ 1.11 g/t Au and 8m @ 1.29 g/t Au respectively (from 36m – 44m and from 44m – 52m). RC drilling will now be completed with up to six holes drilled to approximately 200m oblique to the interpreted structure between ACDD001 and DDAC054.