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Carbine Resources Ltd.
Summary
| Project: | Mount Morgan | |
|---|---|---|
| Deposit: | Red Oxide | |
| Location: | Australia | |
| Commodities: | Gold-Copper-Silver-Sulphur | |
| Date: | 8/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 9-8-2016: Carbine Resources Ltd. announces a Resource Estimation report for its Red Oxide deposit at the Mount Morgan project. Mineral resource update for Red Oxide tailings dump. Carbine Resources Limited (ASX:CRB) is pleased to advise that it is now in | |
| Resources: | (Resource, I+I): 0.86Mt @ 2.17g/t Au for 60000oz Au contained at Red Oxide | |
| 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, with the completion of the last of four Mineral Resource estimates. The JORC 2012 Indicated Mineral Resource at Mount Morgan’s Red Oxide tailings dump is 0.83Mt at 2.17g/t gold for 58,000 ounces of gold (above a 0.00 g/t gold cut-off grade). This is an increase of 30,000oz from the previous Indicated Mineral Resource completed in 2009. The total Indicated and Inferred Mineral Resource for Red Oxide stands at 0.86Mt at 2.17g/t gold for 60,000oz. This updated Mineral Resource will be incorporated in the Definitive Feasibility Study (DFS) due for completion next month. This announcement for the Red Oxide tailings dump represents the last of four resource updates on the tailings dumps at Mount Morgan. The previous resource updates for the No 2 Mill, Mundic Gully and Shepherds Gully tailings dumps were announced previously (ASX: 18 July 2016, 27 July 2016, 1 August 2016). These updates include the results from the recently completed drilling program in May 2016 (ASX: 1 June 2016). A total of 16 drill holes were completed at the Red Oxide tailings dump in 2016 to both convert the Inferred Resources to Indicated Resources and to increase the overall resource by testing for potential extensions to the known resource. | |
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