The Board of Laneway Resources Limited advised of continuing high grade gold assay results from the recent drilling program at the high grade Sherwood and Sherwood West deposits within Laneway's 100% owned Agate Creek Gold Project in North Queensland. Assay results have been received for a further 26 drill holes from the recent 49 drill hole, 2,774 metre, drilling program. Significant drill intercepts at the Sherwood deposit include: CCGC306: 2m @ 8.31 g/t Au from 42m. CCGC314: 2m @ 5.06 g/t Au from 19m. CCGC331: 1m @ 20.3 g/t Au from 79m. CCGC334: 6m @ 5.37 g/t Au from 14m. Significant drill intercepts at the Sherwood West deposit include: CCGC322: 3m @ 3.68 g/t Au from 17m. CCGC323: 8m @ 4.62 g/t Au from surface. This drilling program is the first phase of a multi-stage drilling campaign following on from the recent completion of the Multi-Element Study that identified IRGS potential at Agate creek. The initial RC drilling program targeted along strike and deeper extensions to known high grade mineralisation at Sherwood and Sherwood West and the results received are assisting in updating
planned open cut designs along with required waste rock characterisation sampling as part of Environmental Authority amendment applications. The diamond drilling program was designed primarily to assess geotechnical constraints for pit designs but also targeting additional deeper Rhyolite zones at Sherwood. Further assay results, primarily for the waste rock characterisation sampling, are still pending.