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Carbine Resources Ltd.
Summary
| Project: | Mount Morgan | |
|---|---|---|
| Deposit: | Mundic Gully, Shephers Gully tailings dumps | |
| Location: | Australia | |
| Commodities: | Gold-Copper-Iron-Sulphur-Silver | |
| Date: | 6/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-6-2016: Carbine Resources Ltd. announces an Exploration/Drilling Update report for its Mundic Gully, Shephers Gully tailings dumps deposit at the Mount Morgan project. Drilling results incl. 19m @ 3.24g/t Au, 0.28% Cu, 11.1% Fe, 5.6% S, 0.6g/t Ag from | |
| Resources: | (Resource, I+I): 8.348Mt @ 1.23g/t Au for 326000oz Au contained at Mount Morgan Tailings | |
| CP/QP: | [Overall Report]: Chris Newman (Internal) | |
| ABSTRACT: | Carbine Resources Limited (ASX:CRB) is pleased to announce that the impending Mineral Resource update at its Mount Morgan gold-copper tailings treatment project in Queensland has received a significant boost from a series of strong drilling results outside the current Resource boundaries. The assay results, which come from drilling at the Mundic and Shepherds Gully Tailings Dumps at Mount Morgan, also demonstrate consistency in grade and volume. The Mineral Resource upgrade is set to be released in the September quarter as an integral part of the Definitive Feasibility Study (DFS) due for completion in the same period. The initial drilling program at the Mount Morgan Gold-Copper Project in Queensland was completed in May 2016 (ASX: 1 June, 2016). Following review of the Shepherds Gully drilling and identified depth extensions, Carbine recently drilled an additional 9 holes (339m), taking the total drilling program to 162 holes (3,421 m). The Company also decided to assay 40 holes drilled for metallurgical test work in 2008 by Norton and in 2015 by Carbine to be also included in the Mineral Resource estimation work. The current drilling program, which is now complete, is designed to upgrade the existing Mineral Resource 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. Assays from drilling at the Mundic Gully tailings dump have yielded further thick, high-grade tailings outside the current Mineral Resource boundary. Assays from drilling at the Shepherds Gully tailings dump have yielded thick tailings mineralisation from outside the current Inferred Resource boundary and highlight the potential for additional Mineral Resources. | |
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