Gorilla Gold Mines Ltd (ASX:GG8) Further High-Grade Gold Hits at Comet Vale

17 February 2025

Price Sensitive Announcement $

Overview:

Gorilla Gold Mines Ltd has announced further drilling results from Reverse Circulation (‘RC’) drilling at the Comet Vale Project, 97km north of Kalgoorlie, Western Australia. The results relate to 6 RC holes that have been drilled in the new discovery area at the Sovereign prospect (Table 1), north of the MRE. Further results are expected in the coming weeks

Highlights:

Drilling by Gorilla has extended a newly discovered high grade, continuous gold
zone, at Comet Vale located outside and to the north of the current Mineral Resource Estimate (‘MRE’) areas at Sovereign.

• New extensional drilling results from this newly discovered gold lode, north and outside
  of the current MRE include:
  o 6m @ 22 g/t Au from 70m in STEX062
  o 7m @ 8.2 g/t Au from 216m in STEX059
  o 5m @ 7.5 g/t Au from 155m in STEX060
  o 2m @ 12.4 g/t Au from 40m in STEX061
• Drilling has now intercepted high grade mineralisation in this new zone over an area of 250m along strike by 200m down dip, with known historic high grade intercepts a further 200m down plunge.
• Four drill rigs are currently operating at Comet Vale, with 3 rigs focussing on growth drilling at the Sovereign Prospect and 1 rig undertaking exploratory drilling at the Lakeview Prospect.
• Samples for Vivien drilling are with the labs and expected in the coming weeks, a MRE is under way for Vivien, Mulwarrie drilling to start imminently

Company Notes:

Charles Hughes, Chief Executive Officer commented:
“These further shallow, high-grade results from extensional drilling at this new gold lode are quite exciting. This is outside of and to the north of the current MRE at Comet Vale, and it points to the possible tenor and scale of this emerging discovery.

What an exciting time for Gorilla; we are doing what we said we would do, and getting good results and this is testament to the great work the onsite teams are doing, working safely through challenging conditions this summer to execute the Company’s plans, and deliver these results.

The possibility of this type of upside opportunity at Comet Vale, this vision that there was undertested growth potential at Comet Vale was what triggered this growth investment in the project. Results like this are confirming this vision.

We have 4 rigs turning at Comet Vale, samples in the labs, we are testing multiple pojects and multiple prospects, what other discoveries are waiting to be found out there?”

Full ASX Announcement: Gorilla Gold ASX Announcement