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Doray Minerals Ltd.
Summary
| Project: | Gnaweeda | |
|---|---|---|
| Deposit: | Turnberry | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-6-2017: Doray Minerals Ltd. announces a Resource Estimation report for its Turnberry deposit at the Gnaweeda project. Resource estimate & drilling results incl. 23m @ 7.1g/t Au. Doray Minerals Limited (ASX:DRM, Doray) is pleased to announce an updated M | |
| Resources: | (Resource, I+I): 5.5Mt @ 1.8g/t Au for 322000oz Au contained at Turnberry | |
| CP/QP: | [Resources]: Mark Cossom (Internal) | |
| ABSTRACT: | Doray Minerals Limited (ASX:DRM, Doray) is pleased to announce an updated Mineral Resource estimate at its Turnberry Deposit within the 100% owned Gnaweeda Project, located 15km from Andy Well (see Figure 1). The revised estimate has resulted in a significant increase to the gold inventory of approximately 21%. In addition, the initial results of an extensive infill Reverse Circulation (RC) drilling programme designed to upgrade confidence in this revised Mineral Resource have demonstrated consistent high gold grades and continuity within the Turnberry South area of the Resource. Drilling is ongoing. The updated Mineral Resource for Turnberry is 5.5Mt @ 1.8g/t for 322,000 contained ounces Au (Indicated and Inferred - see Table 1 and Appendix 1). This Mineral Resource estimate is based on an open pit mining scenario and has utilised all Doray data available prior to the current drill programme. It relies on a robust revised geological interpretation, compiled with the assistance of external structural geological consultants. Figure 2 highlights the orezone interpretations for this estimate. Drilling results to date from Turnberry South have been highly encouraging, confirming both the revised geological interpretation of mineralisation at Turnberry, as well as the continuity of grade within the interpreted mineralised zones. Doray’s Managing Director, Mr Leigh Junk, said “the addition of these valuable open pit ounces at Gnaweeda is having a significant impact on how we are assessing the entire strategy for the Andy Well Gold Project. Our optimisation strategy benefits from the flexibility of being able to prioritise this higher margin open pit material so close to our plant at Andy Well”. | |
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