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Cervantes Corporation Ltd.
Summary
| Project: | Albury Heath | |
|---|---|---|
| Deposit: | Albury Heath | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-2-2017: Cervantes Corporation Ltd. announces a Resource Estimation report for its Albury Heath deposit at the Albury Heath project. Initial JORC Resource at Albury Heath. Cervantes Corporation Limited (ASX:CVS, “Cervantes”) is pleased to announce a JORC | |
| Resources: | (Resource, I+I): 390Kt @ 2.15g/t Au for 27000oz Au contained at project | |
| CP/QP: | [Resources]: John Doepel (Continental Resource Management Pty Ltd.) | |
| ABSTRACT: | Cervantes Corporation Limited (ASX:CVS, “Cervantes”) is pleased to announce a JORC compliant Mineral Resource Estimate for its Albury Heath gold deposit, south of Meekatharra. Respected mining industry consultant, Continental Resource Management (CRM) has estimated Indicated and Inferred Resources of 390,000 tonnes at 2.15g/t Au, for a total of 27,000 oz of contained gold above a cut-off grade of 0.5g/t Au. Cervantes Executive Chairman, Collin Vost commented; “We are very pleased to have been able to reach this milestone so quickly and cheaply and to vindicate our faith in the potential of the Albury Heath Project. Albury Heath was acquired because of its potential to offer near term production options due to its advance stage, simple metallurgy and proximity to existing 3rd party mills in the Meekatharra area and we are therefore very pleased to see that potential being realised”. “We were fortunate to have located and sourced the historical exploration database from previous workers, thus enabling us to short circuit the exploration process and develop new geological models and a JORC resource very quickly. This Mineral Resource Estimate not only provides us with a firm base to commence examining development options, but throws up some interesting opportunities to explore upside to the Resource”. | |
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