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Cervantes Corporation Ltd.
Summary
| Project: | Albury Heath | |
|---|---|---|
| Deposit: | Albury Heath | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/12/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-3-2019: Cervantes Corporation Ltd. announces a Resource Estimation report for its Albury Heath deposit at the Albury Heath project. Updated mineral resource estimate at the project. Cervantes (ASX:CVS) wishes to announce the updating of the Mineral Res | |
| Resources: | (Resource, Inf. ): 528Kt @ 2.09g/t Au for 35.479Koz Au contained at project | |
| CP/QP: | [Resources]: Phillip Jones (Al Maynard & Associates Pty Ltd.) | |
| ABSTRACT: | Cervantes (ASX:CVS) wishes to announce the updating of the Mineral Resource for its 100% owned Albury Heath Mine deposit and plans for further exploration work in the Albury Heath Project area (Figure 1). JORC (2012) RESOURCE Experienced resource geologist Mr Philip Jones, MAusIMM, consultant with Al Maynard & Associates, has estimated an Inferred Resource for the Albury Heath Mine area (P51/2937, Figure 1, Table 1): Recent drilling by the company has shown that areas of bonanza grade gold, to 202.8g/t gold, or 6.5 ounces/t, exist in the mine area. Follow-up drilling showed that, while the lode zones are generally continuous, the gold grades tend to be erratic. Consequently, Cervantes has decided it is prudent to classify the entire resource as an Inferred Resource. Additional close spaced drilling will be needed to establish gold grade continuity. BACKGROUND Cervantes announced a Maiden Resource for the Albury Heath Gold Mine on 7 February 2017 soon after the Mining Lease’s acquisition. That resource estimate was based on 110 drill holes for 6,326.5m drilled by previous explorers. Drilling chiefly consisted of Reverse Circulation (RC) drilling and there was one diamond drill hole (DDH). | |
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