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Beadell Resources Ltd.
Summary
| Project: | Tucano | |
|---|---|---|
| Deposit: | Tab AB | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 12/6/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-12-2016: Beadell Resources Ltd. announces an Exploration/Drilling Update report for its Tab AB deposit at the Tucano project. Drilling results incl. 50m @ 6.66g/t Au from 50m @ AB2 Trough. Beadell Resources Limited (“Beadell” or “the Company”) is please | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Watkins (Internal) | |
| ABSTRACT: | Beadell Resources Limited (“Beadell” or “the Company”) is pleased to provide an exploration update from its 100% owned Tucano gold mine in northern Brazil. An accelerated step out drill program of the Tap AB Trough Lodes and surrounds is underway following dewatering of the Tap AB1 open pit. A further 6,000 m of RC and diamond drilling will be completed in December. High grade oxide drill results continue to be received from the Tap AB1 and Tap AB2 Trough Lodes, which are the highest priority drill targets for high grade oxide gold resource definition and extension at Tucano. The Tap AB Trough Lodes are within 2 km of the Tucano mill. Recent detailed field work at Tucano by structural geologist Brett Davis of Orefind Pty Ltd indicates that gold mineralisation postdates the initial displacement on the Mata Fome fault. This key new geological interpretation suggests that the AB1 and AB2 Trough lodes developed contemporaneously and are not the result of a later offset of the same orebody. The mineralisation is now interpreted to transgress across the Mata Fome fault. This new geological insight opens up the potential for extensions of both Tap AB1 and Tap AB2 Trough lodes north and south of the Mata Fome fault as indicated in Figures 1, 2 & 4. Importantly, new results from Tap AB Sul and Tap AB Norte to the south and north of the Tap AB open pit complex, respectively also suggest potential to grow open pit oxide resources along the highly prospective trough lode contact. | |
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