Gullewa Unveils Strong Gold Intercepts in 2024 South Darlot and British King Drilling

Context and Overview

Gullewa Limited (ASX: GUL), holding a 51% stake in Central Iron Ore Limited (TSX.V: CIO), has released the final assay results from its 2024 Phase 1 drilling campaigns at the South Darlot Gold Project and the British King deposit in Western Australia. These results mark a significant milestone in the company’s exploration efforts, confirming multiple high-grade gold intercepts and expanding the known mineralisation footprint across several satellite targets.

The campaigns comprised 31 reverse circulation (RC) drill holes totaling 1,998 meters at South Darlot and 6 diamond drill holes totaling 334 meters at British King. The assays, conducted by ALS Laboratories, passed rigorous quality assurance and control protocols, underscoring the reliability of the data.

Key Drilling Highlights

At South Darlot, standout intercepts include 1 meter at 9.51 g/t Au from 67 meters, 4 meters at 3.54 g/t Au from 68 meters, and notably 2 meters at 14.85 g/t Au from just 16 meters depth. The Weebo North prospect delivered impressive results such as 2 meters at 15.1 g/t Au from 56 meters and 10 meters at 2.64 g/t Au from 37 meters, confirming the continuity of high-grade lodes.

The British King diamond drilling program revealed exceptional grades, including a remarkable 0.39 meters at 184.56 g/t Au from 57.85 meters and 3 meters at 22.68 g/t Au from 57 meters. Visible dendritic gold was observed in multiple drill cores, a promising indicator of coarse gold mineralisation that could enhance future recovery rates.

Expanding Mineralisation at Satellite Projects

Beyond the main projects, RC drilling at satellite targets Mermaid, Sylvia & Kyneton, and Weebo North has expanded the known mineralised zones. For example, the Mermaid prospect’s western extension was confirmed with 4 meters at 3.43 g/t Au from 56 meters, while Sylvia & Kyneton drilling defined the eastern and down-dip extents of the lodes with intercepts such as 1 meter at 9.51 g/t Au and 4 meters at 3.54 g/t Au.

These results not only validate the geological models but also highlight the potential for resource growth through lateral and depth extensions, supporting the company’s strategic focus on resource expansion.

Quality Assurance and Next Steps

The sampling and assay protocols adhered to industry best practices, including the use of certified reference materials, duplicate sampling, and rigorous chain-of-custody procedures. The competent person overseeing the data compilation, Andrew Bewsher MAIG, has certified the results in accordance with the JORC Code 2012 standards.

Looking ahead, Central Iron Ore plans further diamond and RC drilling to refine structural interpretations and support metallurgical and petrographic test work. These efforts aim to delineate the resource more precisely and assess the amenability of the ore to processing, critical steps toward advancing the projects toward development.

Strategic Implications

This drilling update reinforces Gullewa’s position in the North Eastern Goldfields of Western Australia, an established gold province with a rich mining history. The high-grade intercepts and visible gold occurrences bode well for the economic potential of the South Darlot and British King projects. Investors and analysts will be watching closely as the company progresses with resource estimation and feasibility studies.