The Dalgaranga gold project comprises the Gilbeys deposit and the newly discovered high grade golden wings prospect including shallow high grade drill intersections of up to 16m @ 8.7g/t gold and 22m @ 6.0 g/t gold.
The lease will enable rapidly development of the Gilbeys and Golden Wings prospects, which were the subject of a current Dalgaranga scoping study.
Covering an area of 1,652 hectares, the lease has been granted for a 21 year term.
Gascoyne chairman Michael Joyce said that the lease approval marks positive step towards short term cash flow for Gascoyne.
"The grant of the Dalgaranga mining lease and the proximity to existing mills puts the Dalgaranga project now ahead of the company’s flagship one million ounce Glenburgh project on the critical path to development and opens up the possibility of cash flow from Dalgaranga being applied to building the larger Glenburgh project," Joyce added.
