GGG Resources, the Australia focused gold company, says drilling at its 50% owned Bullabulling site near Perth has produced better than estimated results.
A total of 565 holes have so far been dug, most of which have encountered four mineral intersections. Approximately 60% of the intersections are better than estimated by the firm's working model, 34% are similar and 6% are worse or missing.
In addition, the company's merger with Auzex Resources (which owns the other 50% of Bullabulling) is going according to plan, with Auzex now awaiting shareholder approval (and a nod from the courts).
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The merger will see both companies coming together under the Bullbulling Gold name.
Shares in GGG were up 7.5% by 12:20pm.
BS
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