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Eastern Goldfields Ltd.
Summary
| Project: | Siberia | |
|---|---|---|
| Deposit: | Sand King | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/31/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 31-5-2018: Eastern Goldfields Ltd. announces an Exploration/Drilling Update report for its Sand King deposit at the Siberia project. Drilling results incl. 15.0m @ 1.41g/t Au from 1.0m. Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the Comp | |
| Resources: | (Reserve, Prob.): 2.025Mt @ 2.3g/t Au for 150000oz contained at Siberia | |
| CP/QP: | [Overall Report]: Michael Thomson (Internal) | |
| ABSTRACT: | Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the Company) is pleased to announce drilling results from the Siberia open pit mining project, located approximately 37 km south-east of the Davyhurst Mill and 80 km north-west of Kalgoorlie (refer Figure 1). Assays results have been returned on the recently completed low grade stockpile and laterite extensional drilling (see Figure 2). On the low grade stockpile, 92 holes for 1,925 metres were drilled to establish a 15 metre by 15 metre drill spacing. The strength of the results returned to date, combined with the 2,000 metres of infill drilling has now closed out the program. These results will be evaluated to establish low grade mining blocks which will be made available for processing from June 2018 (see Figures 3 & 4). As announced on 29 August 2017, near surface gold mineralisation was defined outside of the existing Ore Reserve, on the eastern side of the Sand King pit. An initial drilling program was completed in the first quarter resulting in a significant tonnage mined out in April 2018. Additional extensional drilling successfully defined extensions to the known mineralisation. A total of 191 holes were drilled for 2,444 metres. These recent results are currently being evaluated with mining scheduled for June 2018 (see Figures 5 & 6). Significantly, two holes ended in mineralisation with a maximum grade of 6.61 g/t gold. Further examinations are being undertaken to confirm a potential intersection with the primary mineralisation that underlies the laterite mineralisation (see Figure 6). Conceptually this may relate to a cross cutting (east-west) structure. Preliminary follow-up drilling is planned. Executive Chairman, Michael Fotios said: “Defining relatively broad grade zones within the Sand King low grade stockpile and extensions to the laterite mineralisation clearly bolsters the short-term processing opportunities at Davyhurst, while we progress the Siberia bulk waste mining pre-strip. Both areas are associated with low stripping ratios (waste:ore), which will result in low cost gold production. The potential to find a primary mineralisation source underlying the laterite mineralisation will remain our focus in the short-term.” | |
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