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Egan Street Resources Ltd.
Summary
| Project: | Rothsay | |
|---|---|---|
| Deposit: | Rothsay | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 20-3-2017: Egan Street Resources Ltd. announces a Resource Estimation report for its Rothsay deposit at the Rothsay project. Amended Report for Mineral Resource Estimate Update at Rothsay. Egan Street Resources Limited (ASX: EGA, EganStreet or the Company | |
| Resources: | (Resource, I+I): 701kt @ 11.6g/t Au for 262koz Au contained at project | |
| CP/QP: | [Overall Report]: Julie Reid (Internal) | |
| ABSTRACT: | Egan Street Resources Limited (ASX: EGA, EganStreet or the Company) is pleased to advise that its strategy to develop a high-grade gold operation at its 100%-owned Rothsay Gold Project in WA’s Midwest region has received a significant boost following the completion of an updated Mineral Resource estimate. The updated Mineral Resource, which was estimated by Cube Consulting Pty Ltd, incorporates the results of a highly successful 3,600m in-fill drilling program completed at the Rothsay Project last quarter and demonstrates the significant upside to the deposit, which remains open both along strike and at depth. The updated high-grade Mineral Resource will form the basis of an updated Scoping Study for the Rothsay Project which is due for completion next quarter. Based on the significant extensions of the high-grade block model delineated by the recent drilling and the increase in Indicated Resource ounces, the updated Scoping Study is expected to deliver an increased mining inventory and improved project value. Following a detailed review of the upgraded Mineral Resource estimate and the results of the recent drilling campaign, the Company is confident that, based on the conversion to Indicated Resources and the improvement in grade and thickness at the southern end of the deposit, a revised Scoping Study will deliver a larger mining inventory and consequently improved project value. | |
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