Dragon Mountain Gold's drilling update

Dragon Mountain Gold (ASX:DMG) has reported results from its recent reverse circulation drilling at the Avalon Project, 35 km east of Kalgoorlie, Western Australia. The drilling included four holes totaling 612 meters, with two holes showing promising signs of gold mineralization.

Dragon Mountain Gold's exploration outlook

Dragon Mountain Gold is advancing its exploration efforts at the Avalon Project following promising drilling results. The company plans further exploration activities over the next 12 months, including higher-resolution magnetic and gravity surveys to refine subsurface geology understanding and identify new drill targets. A targeted Phase 2 drilling program is also under consideration, alongside heritage and environmental surveys. Situated near Kalgoorlie, a region known for significant gold deposits, the Avalon Project holds potential for discovering robust gold systems. Dragon Mountain Gold aims to systematically enhance value across its portfolio by focusing on structurally controlled mineralization and exploring new opportunities.

Executive commentary on Avalon Project results

The drilling campaign provided valuable insights into the geological and geochemical characteristics of the Avalon Project. Observations of shearing and hydrothermal alteration along a metavolcaniclastic-meta-mafic and ultramafic contact are encouraging indicators for gold deposition. These results suggest potential for higher gold grades along this altered and sheared contact, providing a focus for further exploration activity.