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Carbine Resources Ltd.
Summary
| Project: | Mount Morgan | |
|---|---|---|
| Deposit: | Mundic Gully Tailings Dump | |
| Location: | Australia | |
| Commodities: | Gold-Copper-Silver-Sulphur | |
| Date: | 7/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-7-2016: Carbine Resources Ltd. announces a Resource Estimation report for its Mundic Gully Tailings Dump deposit at the Mount Morgan project. Indicated Resource at Mundic Gully doubled to 104000oz Au from 52000oz Au. Carbine Resources Limited (ASX:CRB) | |
| Resources: | (Resource, Ind.): 1.70Mt @ 1.91g/t Au for 104000oz Au contained at Mundic Gully tailings dump | |
| CP/QP: | [Resources]: Dr M. Abzalov (Independent) | |
| ABSTRACT: | Carbine Resources Limited (ASX:CRB) is pleased to advise that it is now in the final stages of the Definitive Feasibility Study on its Mount Morgan Gold-Copper Project in Queensland (Figure 1), with the completion of the second of four Mineral Resource updates. The JORC 2012 Indicated Mineral Resource at Mount Morgan’s Mundic Gully tailings dump is 1.70Mt at 1.91g/t gold for 104,000 ounces of gold (above a 0.00 g/t gold cut-off grade). This is an increase of 52,000oz from the previous Indicated Mineral Resource completed in 2009. This updated Mineral Resources will be incorporated in the Definitive Feasibility Study (DFS) due for completion this quarter. This is the second of four resource updates on the tailings dumps at Mount Morgan. The first resource update, which was for the No 2 Mill tailings dump, revealed that Indicated Resources there had more than doubled to 100,000oz (ASX: 18 July 2016). At Mundic Gully, a total of 66 drill holes were completed by Carbine in 2015 and 2016. The drilling was designed to both convert the Inferred Resources to Indicated Resources and to increase the overall resource by testing for potential extensions to the known resource. At that time, the Mundic Gully tailings dump had a Total Mineral Resource of 1.2Mt at 1.89g/t gold, including 0.8Mt at 1.93g/t gold in the Indicated Resource Category and 0.4Mt at 1.82g/t gold in the Inferred Resource Category (Norton Gold Fields Limited ASX announcement 28 October, 2009). | |
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