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Eastern Goldfields Ltd.
Summary
| Project: | Siberia | |
|---|---|---|
| Deposit: | Missouri | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/6/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2016: Eastern Goldfields Ltd. announces an Exploration/Drilling Update report for its Missouri deposit at the Siberia project. Drilling results incl. 13m @ 9.79g/t Au from 40m. Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael Thomson (Internal) | |
| ABSTRACT: | Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the Company) is pleased to announce the final results from its drilling program at the Missouri Deposit, located approximately 80km north west of Kalgoorlie within the North Eastern Goldfields of Western Australia (Figure 1). The Company has completed 1,889 diamond drilling metres and 4,525 RC metres, in the Missouri deposit for a total of 6,414 metres. The Missouri drilling generally produced consistent and strong high grade mineralisation. The infill drilling intersected mineralisation where expected, increasing confidence in the Company’s current Resource interpretations. One hole in particular, MIRC184, was drilled into the Missouri South East area and intersected 13m @ 9.79 g/t Au, approximately 10 metres below the proposed pit (see Figure 4). This hole was testing an area between two historic holes with significant intercepts of 9m @ 2.17 g/t Au (MC497) and 8m @ 4.57 g/t Au (M153). Hole MIRC170 returned 7m @ 6.99 g/t Au and 7m @ 5.13 g/t Au, and was designed to properly determine the toe out position of the northern high‐wall. A preliminary Resource estimation for Missouri is complete and is the subject of ongoing mining studies aimed at determining a Reserve. Executive Chairman Michael Fotios said: “We are pleased to have concluded drilling at Missouri, delivering outstanding results through the course of the drill program which will strengthen the mine plan and project economics. We look forward to presenting an updated JORC Resource and Reserve statement in the near future and remain well placed to commence mining this deposit early in the New Year.” | |
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