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A1 Consolidated Gold Ltd.
Summary
| Project: | A1 Gold Mine | |
|---|---|---|
| Deposit: | Phase 1 Target Area | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/8/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-7-2016: A1 Consolidated Gold Ltd. announces a Resource Estimation report for its Phase 1 Target Area deposit at the A1 Gold Mine project. Upgraded mineral resource estimate for Phase 1 Target Area at the A1 Gold Mine. A1 Consolidated Gold Limited (ASX: | |
| Resources: | (Resource, Total): 28000t @ 10.50g/t Au for 9600oz Au contained at Phase 1 Target Area | |
| CP/QP: | [Resources]: Mick McKeown, David Sharp (Mining One Pty Ltd.;Internal) | |
| ABSTRACT: | A1 Consolidated Gold Limited (ASX: AYC) (A1 Consolidated Gold or the Company) is pleased to report the recent independent update of the Mineral Resource for the Phase 1 Target Area at the A1 Gold Mine. This Resource update is only for the small portion of A1 Resource that was recently drilled in the Phase 1 drilling campaign and is a sub-set of the much larger Resource at A1 of 281,200 ounces. Executive Chairman, Dale Rogers commented, “following the very high grades reported from the Phase 1 drilling the grade of the Resource is double the previous estimates in this area. This was despite adopting a conservative approach to grades in the Resource modelling. We spent approx. $300,000 on drilling, assaying and modelling over 8 weeks which defined over $17m worth of gold at today’s prices. We have also significantly increased the confidence level of the Resource. The drilling team are back at site and we are moving ahead with the drilling campaigns”. “We will complete a revised mine design and schedule, including dilution, and publish the results shortly. However, I would expect most, if not all of these ounces will be mined within the next 6 months in addition to the other areas we are presently mining.” | |
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