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Beadell Resources Ltd.
Summary
| Project: | Tucano | |
|---|---|---|
| Deposit: | Tap AB, Duckhead | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 8/1/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-8-2016: Beadell Resources Ltd. announces an Exploration/Drilling Update report for its Tap AB, Duckhead deposit at the Tucano project. Drilling results incl. 48m @ 11.62g/t Au from 66m at Duckhead. Beadell Resources Limited (“Beadell” or “the Company”) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Watkins (Internal) | |
| ABSTRACT: | Beadell Resources Limited (“Beadell” or “the Company”) is pleased to announce the receipt of new high grade drilling results from the Tap AB and Duckhead Mine areas at its 100% owned Tucano mine in Brazil. The exploration program at Tucano continues to deliver significant high grade results. Importantly we are now seeing high grade results from numerous parts of the existing mine corridor. Ongoing resource definition and extension drilling of the high grade Tap AB1 Trough Lode continues to improve and grow the mineralised envelope within and below the reserve pit limit. A significant result below the reserve open pit was intersected of 14 m @ 6.56 g/t from 94 m and 26 m @ 11.61 g/t from 118 m to BOH, including 9 m @ 27.92 g/t from 126 m. The Tap AB1 Trough Lode remains open down plunge to the north where further drilling is planned. The bottom of oxidation in this lode has yet to be reached. Resource definition drilling of the Tap AB2 Trough Lode continues to enhance the resource below the open pit reserve. Oxide results of 31 m @ 14.02 g/t from 95 m including 14 m @ 26.45 g/t from 97 m and 25 m @ 9.92 g/t from 122 m including 6 m @ 37.11 g/t from 124 m bode well for future resource/reserve additions and the likely deepening of the open pit. Additional drilling is being planned. A drilling program has just been completed from the current base of the Duckhead pit comprising 25 holes for 2,233 m. The drilling was designed to finalise all grade control to the bottom of the current pit cut back and test below the current open pit reserve for extensions of the high grade Main Lode. The final portion of the existing Duckhead pit is currently being mined. | |
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