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Excelsior Gold Ltd.
Summary
| Project: | Kalgoorlie North | |
|---|---|---|
| Deposit: | Zoroastrian | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-11-2017: Excelsior Gold Ltd. announces a Resource Estimation report for its Zoroastrian deposit at the Kalgoorlie North project. Updated Mineral Resource at Zoroastrian, contained ounces increased by 37%. Excelsior Gold Limited (ASX: EXG) (“Company” or | |
| Resources: | (Resource, Total): 4.408Mt @ 2.2g/t Au for 305Koz Au contained at Zoroastrian | |
| CP/QP: | [Resources]: Ross Whittle-Herbert (Internal) | |
| ABSTRACT: | Excelsior Gold Limited (ASX: EXG) (“Company” or “Excelsior”) is pleased to announce a Mineral Resource upgrade for its 100%-owned Kalgoorlie North Gold Project (“KGNP”), located 30 to 55km north of Kalgoorlie in Western Australia. The Company continues working towards converting as much of the updated 954,000 ounce gold resource base (Table 1) to reserves, while continuing to explore the highly prospective project area for new discoveries. Excelsior recently completed mining of the Zoroastrian Central Open Pit (refer ASX announcement 28 August 2017), which generated a significant amount of additional structural, geological and mineralisation information based on close spaced grade control drilling, in pit mapping and mill reconciliation data. This additional and more robust data has provided the opportunity to remodel the Zoroastrian deposit incorporating an increased confidence in the geometry and grade distribution of the lodes that constitute the Zoroastrian deposit. The Mineral Resource update reported herein was independently verified by consulting group Cube Consulting Pty Ltd. The previous Zoroastrian resource estimate was constrained by a $2,750 oz Au pit shell (refer ASX announcement 13 September 2017). The continuity and high grades observed at the base of the open pit prior to the completion of mining now provides the Company with confidence to investigate the underground potential of the deposit. The updated resource is now reported as open pit (for mineralisation above 290mRL (150m below surface) and above a cut-off grade of 0.6g/t Au), and as underground (for mineralisation below this RL at a cut-off grade of 2.5g/t Au). This categorization is considered to best represent the potential future economics of the deposit in the current gold price environment. | |
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