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Excelsior Gold Ltd.
Summary
| Project: | Kalgoorlie North | |
|---|---|---|
| Deposit: | Parkerville | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/26/2014 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-11-2014: Excelsior Gold Ltd. announces a Resource Estimation report for its Parkerville deposit at the Kalgoorlie North project. Parkerville resource update - 76% increase in contained ounces. Excelsior Gold (“Excelsior” or the “Company”) is pleased to | |
| Resources: | (Resource, I+I): 296000t @ 1.54g/t Au for 14600oz Au contained at project | |
| CP/QP: | [Resources]: David Potter (Internal) | |
| ABSTRACT: | Excelsior Gold (“Excelsior” or the “Company”) is pleased to advise an upgrade of gold resources at the Parkerville deposit, which is located in the potential satellite open pit mining precinct in the central portion of the Kalgoorlie North Gold Project (refer Figure 1). The new resource represents a 76% increase in contained ounces. The resource upgrade, includes results received from the recent reverse circulation (“RC”) drilling programs which were designed to infill and extend the known mineralisation (ASX announcements 17 September and 7 October 2014). As a result of this drilling the Indicated resource ounces have increased by 86% (11,000ozs Au) to 213,000 tonnes @ 1.60g/t Au. Although a relatively small resource, the gold mineralisation at Parkerville forms part of a cluster of satellite deposits, which also includes resources at Nerrin Nerrin (180,500t @ 2.38g/t Au for 13,800ozs), Castlereagh (157,700t @ 1.94g/t Au for 9,800ozs), Big Blow South (325,400t @ 2,64g/t Au for 27,600ozs), Big Blow North (184,400t @ 1.39g/t Au for 8,200ozs) and Jackorite (117,900t @ 2.50g/t Au for 9,500ozs). This highly mineralised area, centred approximately 2.5 kilometres south of the large Zoroastrian mineralised system, offers the potential for the development of a multiple open pit satellite mining program. The significant gold mineralisation in the area is localised by the intersection of the north-east trending shears related to the Black Flag Fault system, with the northerly trending Bardoc Tectonic Zone lithological units and shear zones. | |
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