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Carbine Resources Ltd.
Summary
| Project: | Mount Morgan | |
|---|---|---|
| Deposit: | No 2 Mill Tailings Dump | |
| Location: | Australia | |
| Commodities: | Gold-Copper-Silver-Sulphur | |
| Date: | 7/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 18-7-2016: Carbine Resources Ltd. announces a Resource Estimation report for its No 2 Mill Tailings Dump deposit at the Mount Morgan project. Indicated Resource at No 2 Mill Tailings Dump increased by 53,000oz to 100,000oz. Carbine Resources Limited (ASX: | |
| Resources: | (Resource, Ind.): 2.823Mt @ 1.10g/t Au, 0.12% Cu, 1.16g/t Ag, 13.3% S at No 2 Mill Tailings | |
| 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 Mt Morgan Gold-Copper Project in Queensland, with the completion of the first of four Indicated Resources. The JORC 2012 Indicated Mineral Resource at Mt Morgan’s No 2 Mill tailings dump is 2.82Mt at 1.10 g/t Au for 100,000 ounces of gold (above a 0.00 g/t gold cut-off grade). This is an increase of 53,000oz from the previous Mineral Resource completed in 2008. This updated Mineral Resource will be incorporated in the Definitive Feasibility Study (DFS) due for completion this quarter. Mt Morgan’s previously reported total Mineral Resource stands at 8.4Mt at 1.23g/t gold for 329,000oz of gold (see Table 3, Norton Goldfields Limited ASX announcement 28 October, 2009). This comprises the four tailings dumps which make up the project. This announcement for the No 2 Mill tailings dump represents the first of four resource updates on the tailings dumps at Mount Morgan. These updates will include the results from the recently completed drilling program in May 2016 (ASX: 1 June 2016). A total of 47 drill holes were completed at the No 2 Mill tailings dump in April to convert the Inferred Resources to Indicated Resources. | |
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