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Carbine Resources Ltd.
Summary
| Project: | Mount Morgan | |
|---|---|---|
| Deposit: | Grasstree Gully, Frogs Hollow | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Iron-Sulphur | |
| Date: | 8/16/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 16-8-2016: Carbine Resources Ltd. announces an Exploration/Drilling Update report for its Grasstree Gully, Frogs Hollow deposit at the Mount Morgan project. Drilling results incl. 4m @ 9.16g/t Au, 5.23g/t Ag 0.88% Cu, 12.4% Fe, 4.7% S from 0m. Carbine Res | |
| Resources: | (Resource, Ind.): 10.2Mt @ 1.20g/t Au, 0.16% Cu at Mount Morgan | |
| CP/QP: | [Overall Report]: Chris Newman (Internal) | |
| ABSTRACT: | Carbine Resources Limited (ASX: CRB) is pleased to announce final assay results from the 2016 drilling program completed at the Mount Morgan Gold-Copper Project near Rockhampton in Queensland. The results reveal significant mineralised historical waste dump material at Grasstree Gully and has identified additional oxide tailings at Frogs Hollow, approximately 250m away from the Red Oxide Mineral Resource (ASX: 9 August 2016). These results will form part of a comprehensive Mount Morgan Project Mineral Resource and Exploration Target update to be released during this quarter. Mount Morgan currently has an Indicated Mineral Resource of 10.2 million tonnes at 1.20g/t gold and 0.16 per cent copper for 394,000 ounces of gold and 16,800 tonnes of copper (ASX: 9 August 2016 – Table 1). This comprises four historical tailings dumps which make up part of the Mount Morgan Project. The recently completed drilling program (completed in May 2016 (ASX: 1 June 2016)) was designed to upgrade the existing Mineral Resources and test some of the previously nominated Exploration Targets. | |
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