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Barra Resources Ltd.
Summary
| Project: | Burbanks | |
|---|---|---|
| Deposit: | Main Lode | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-10-2018: Barra Resources Ltd. announces a Resource Estimation report for its Main Lode deposit at the Burbanks project. Updated mineral resource estimate at the project with Initial resource for main lode deposit. Barra’s Managing Director and CEO Sean | |
| Resources: | (Resource, I+I): 360Kt @ 2.59g/t Au for 29900Oz Au contained | |
| CP/QP: | [Resources]: Andrew Bewsher (BM Geological Service Pty Ltd.) | |
| ABSTRACT: | Barra’s Managing Director and CEO Sean Gregory said, “This maiden Mineral Resource at Main Lode is another step towards realising our Exploration Target at Burbanks ahead of considering a sustainable re-start in mining operations.” Barra Resources Limited (Barra or the Company) is pleased to announce a maiden Indicated and Inferred Mineral Resource of 29,900 Oz at 2.59 g/t gold, reported in accordance with the 2012 JORC Code, for the historical Main Lode Underground Mine at its 100% owned Burbanks Gold Project, 9 km south of Coolgardie in Western Australia. The historic Main Lode Mine is located just 800m north of the Company’s Birthday Gift Underground Mine. Both underground mines and several open pits are currently in care and maintenance. Barra aims to realise its strategy to grow its Mineral Resources at its Coolgardie Gold Projects to a critical mass of 500 kOz ahead of a sustainable future re-start in mining operations. The Main Lode Mineral Resource adjoins the existing Birthday Gift Mineral Resource and together the total Mineral Resource now spans 1,500 m in strike length and is fast becoming an extensive and significant mineralised system still with vastly untested depth potential. MAIN LODE MINERAL RESOURCE The Main Lode Mineral Resource Estimate (MRE) (Table 1, Figure 2) is defined between 5750N and 6300N and from surface to the 280mRL, a vertical depth ranging between 125 and 135 m below surface. The MRE has been prepared as a potential open-pit resource. All mineralisation defined at deeper levels has been uncategorised at this stage and requires further drilling to upgrade into the MRE. The MRE, estimated by BM Geological Services Pty Ltd (BMGS), was based on 136 Reverse Circulation (RC) drillholes. | |
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