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Carbine Resources Ltd.
Summary
| Project: | Mount Morgan | |
|---|---|---|
| Deposit: | Mundic Gully | |
| Location: | Australia | |
| Commodities: | Gold-Copper-Iron-Sulphur-Silver | |
| Date: | 7/11/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 11-7-2016: Carbine Resources Ltd. announces an Exploration/Drilling Update report for its Mundic Gully deposit at the Mount Morgan project. Drilling results incl. 14m @ 3.48g/t Au, 0.16% Cu, 12.6% Fe, 13.5% S, 0.9g/t Ag from 16m. Carbine Resources Limited | |
| Resources: | (Resource, I+I): 8.348Mt @ 1.23g/t Au for 326000oz Au contained at Mount Morgan | |
| CP/QP: | [Overall Report]: Chris Newman (Internal) | |
| ABSTRACT: | Carbine Resources Limited (ASX:CRB) is pleased to announce further assay results from the Mundic Gully Tailings Dumps at its Mount Morgan Gold-Copper Project near Rockhampton in Queensland. The results reveal thick, high-grade tailings and confirm the continuity and consistent grade of the current resource. In addition, sampling of the overburden metallurgical slag dump highlights the potential for significant additional mineralisation in areas currently considered waste above the mineralised tailings. The results will be incorporated in the Resource upgrade expected to be released early in this quarter. This will in turn form part of the Definitive Feasibility Study (DFS) due for completion later this quarter. Mount Morgan currently has a Mineral Resource of 8.4 million tonnes at 1.23g/t gold and 0.15 per cent copper for 329,000 ounces of gold and 12,300 tonnes of copper (see Table 3, Norton Goldfields Limited ASX announcement 28 October, 2009). This comprises several tailings dumps which make up the project. The current drilling program (completed in May 2016 (ASX: 1 June 2016)) is designed to upgrade the existing Mineral Resources and test some of the previously nominated Exploration Targets. The drilling samples will also be stored for use in any ongoing metallurgical optimisation test work associated with the project. | |
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