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Carnaby Resources Ltd.
Summary
| Project: | Tick Hill | |
|---|---|---|
| Deposit: | Tick Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/11/2020 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-3-2020: Carnaby Resources Ltd. announces a Scoping Study report for its Tick Hill deposit at the Tick Hill project. Scoping study results for project. Carnaby Resources Limited (ASX: CNB) (‘Carnaby’ or ‘Company’) is pleased to announce the results fro | |
| Resources: | (Resources, I+I): 837kt @ 2.47g/t Au | |
| CP/QP: | [Resources]: Paul Tan, Robert Watkins (Internal) | |
| ABSTRACT: | Carnaby Resources Limited (ASX: CNB) (‘Carnaby’ or ‘Company’) is pleased to announce the results from a Scoping Study into the potential commercialisation of the 100% owned Tick Hill Gold Project. A mining Mineral Resource Inventory for the Scoping Study is based on an optimised open pit cutback of the historical 70 m deep Tick Hill open pit and re-processing of the high grade East Paddock Tick Hill tailings Dam. The Mineral Inventory is summarised in the following table and detailed below. The Scoping Study Mineral Resource Inventory is after dilution and mining recovery factors of 10% dilution and 95% mining recovery of Open Pit Indicated Resources and 20% dilution and 50% mining recovery of Inferred Resources. Inferred Resources make up 16% of the inventory The Tick Hill tailings dam comprises 2 adjoined tailings paddocks that have remained on site since processing of Tick Hill ore was curtailed in 1994. The East Paddock has been selected to be incorporated into the Scoping Study due to its higher grade containing 285,000 t @ 1.42 g/t gold for 13,000 ounces. | |
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