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Excelsior Gold Ltd.
Summary
| Project: | Kalgoorlie North | |
|---|---|---|
| Deposit: | Zoroastrian | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-11-2017: Excelsior Gold Ltd. announces an Exploration/Drilling Update report for its Zoroastrian deposit at the Kalgoorlie North project. Drilling results incl. 12m @ 5.57g/t Au from 235m. Excelsior Gold Limited (ASX: EXG) (“the Company” or “Excelsior” | |
| Resources: | (Resource, Total): 4.408Mt @ 2.2g/t Au for 305Koz Au contained at Zoroastrian | |
| CP/QP: | [Overall Report]: Bradley Toms (Internal) | |
| ABSTRACT: | Excelsior Gold Limited (ASX: EXG) (“the Company” or “Excelsior”) is pleased to provide the following drilling update for the Zoroastrian deposit (Figure 1) at the Company’s 100%-owned Kalgoorlie North Gold Project (“KGNP”), located 30 to 55km north of Kalgoorlie in Western Australia. The current fully-funded 33,000m drilling program continuesto work towards upgrading as much of the KGNP’s 954,000-ounce gold resource base to reserve status, while continuing to explore the highly prospective project area for new discoveries. Further to the recently announced 37% resource upgrade for Zoroastrian (Tables 1 and 2, refer ASX announcement of 1 November 2017: Zoroastrian Mineral Resource Ounces Upgraded by 37%), assay results from three of the five deeper holes have now been received. The initial deep holes were designed to target the projected high-grade, down-plunge expression of the Zoroastrian deposit and have successfully intersected the predicted Blueys South Lode position with the grade tenor well above that of the resource model. These results have not only enhanced the underground potential of the Zoroastrian deposit, but have also intersected encouraging additional gold mineralisation associated with multiple parallel lodes. Assay results are pending from the other 2 deep holes that were targeting extensions to the resource. Hole KNC170037 was drilled to a down-hole depth of 342m and recorded a best intercept of 5m at 8.18g/t Au, including 2m at 18.0g/t Au from the Blueys South Lode at a depth of 159m below surface (Figure 2). | |
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