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Eastern Goldfields Ltd.
Summary
| Project: | Davyhurst | |
|---|---|---|
| Deposit: | Waihi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 22-2-2017: Eastern Goldfields Ltd. announces an Exploration/Drilling Update report for its Waihi deposit at the Davyhurst project. Drilling results incl. 1.9m @ 10.31g/t Au from 87.3m. Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the Compa | |
| Resources: | (Resource, Total): 20.3Mt @ 2.5g/t Au for 1.61Moz Au contained at Davyhurst Hub | |
| CP/QP: | [Overall Report]: Michael Thomson (Internal) | |
| ABSTRACT: | Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the Company) is pleased to announce results from initial diamond drilling at the Waihi Complex, located 3 kilometres west of the Davyhurst Mill, within the Company’s Davyhurst Hub (Figure 1). The Waihi Complex comprises the historical Waihi and Golden Pole deposits. Both deposits were initially mined in the early-to-mid 1900s as high grade underground mines to a maximum depth of 180 metres, targeting steeply dipping, north plunging shoots and produced approximately 95,500 ounces at an average grade of 27g/t Au. In the late 1990s, approximately 740,000 tonnes @ 2.40g/t Au was extracted via open pit methods at the Waihi deposit, to a maximum depth of 90 metres producing an additional 56,000 ounces. The Company has recovered all available historical mining records for the Golden Pole underground mine. The survey plans and stoping records have been utilised to reconstruct the historical mine in a three dimensional model which has been integral in providing direction to the current resource definition and exploration effort. The Company has recently completed the first two diamond holes of a larger drilling program at the Waihi Complex. These holes targeted a structural corridor at the interpreted intersection of the north and northwest trending controlling structures. The holes were successful in providing much needed lithological and structural data directly under the existing Waihi North and Homeward Bound open pits at a point of structural significance. | |
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