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Centennial Mining Ltd.
Summary
| Project: | A1 Gold Mine | |
|---|---|---|
| Deposit: | Magenta Zone | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-10-2017: Centennial Mining Ltd. announces an Exploration/Drilling Update report for its Magenta Zone deposit at the A1 Gold Mine project. Drilling results incl. 33.5m @ 7.34g/t Au from 104.30m. Centennial Mining Limited (ASX: CTL) (Centennial or the Co | |
| Resources: | (Resource): 250kt @ 5.1g/t Au for 41.2koz (Ind.), 1.17Mt @ 6.4g/t Au for 240koz at A1 Gold (Inf.) | |
| CP/QP: | [Overall Report]: Peter de Vries (Internal) | |
| ABSTRACT: | Centennial Mining Limited (ASX: CTL) (Centennial or the Company) is pleased to announce that recent geological interpretation, modelling and drilling has generated an exciting set of results at its 100% owned A1 underground gold mine in Victoria (A1 Gold Mine). Geological interpretation and modelling of historic mining and drilling data has identified a near-development Exploration Target of approximately 300,000 to 500,000 tonnes grading 3.8 to 5.6 g/t Au(4) (depending on the lower cut-off grade applied), within a broader mineralised zone referred to as the “Magenta Zone”. The potential quality and grade of this Exploration Target is conceptual in nature as there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource. “These results are exciting because of their significant widths and grade and their close proximity to existing development. The Victory North target is so close to existing development that its discovery has forced a redesign of the Decline to ensure it is developed around the mineralisation.” Mr Rogers also said that “The recent geological work is also extremely exciting because the large majority of the Magenta Zone is outside the existing Mineral Resource at the A1 Gold Mine. The higher grade areas identified in the Magenta Zone may, subject to more drilling, represent stepping stones allowing development at depth to the virgin orebody below the historic workings and to the existing 1.4 million tonnes of Ore in A1’s Resource book. | |
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