Gorilla Gold hits high-grade step-out at Mulwarrie, flags major growth potential

Labyrinth Resources Limited ( (AU:GG8) ) has provided an update.

Gorilla Gold Mines has reported high-grade gold intersections from the first step-out drilling more than 700 metres beyond the existing 350,000-ounce mineral resource at its Mulwarrie Gold Project, signalling strong potential for substantial resource expansion. The drilling success, combined with soil sampling that has outlined new anomalies and 30 kilometres of specific targets from Mulwarrie to Mulline, underscores the under-explored nature of the corridor and its camp-scale growth prospects.

Recent soil programs have defined a 2.5-kilometre gold-in-soil anomaly northwest of the current resource and more than 11 kilometres of new anomalies at Mulline, while a strategic tenement acquisition from Hamelin Gold has improved continuity along a key mineralised horizon. With two diamond rigs currently operating at Mulwarrie as part of a broader five-rig, 150,000-metre drilling campaign, Gorilla aims to build on its track record of resource additions and strengthen its position as a growing gold player in the region.

The most recent analyst rating on (AU:GG8) stock is a Sell with a A$0.35 price target. To see the full list of analyst forecasts on Labyrinth Resources Limited stock, see the AU:GG8 Stock Forecast page.

More about Labyrinth Resources Limited

Gorilla Gold Mines Ltd is an Australian gold exploration company focused on its 100%-owned Mulwarrie Gold Project in the Western Australian Goldfields, near several operating gold processing facilities north of Kalgoorlie. The company is pursuing aggressive drilling and sampling programs to expand its mineral resource base and unlock district-scale, multi-million-ounce gold potential across the Mulwarrie corridor.

Average Trading Volume: 1,137,537

Technical Sentiment Signal: Sell

Current Market Cap: A$270.9M

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