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Excelsior Gold Ltd.
Summary
| Project: | Kalgoorlie North | |
|---|---|---|
| Deposit: | Zoroastrian, Bulletin South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-3-2017: Excelsior Gold Ltd. announces a Resource Estimation report for its Zoroastrian, Bulletin South deposit at the Kalgoorlie North project. Updated Ore Reserves at Kalgoorlie North deposits. Excelsior Gold Limited (ASX: EXG) (“Excelsior Gold” or th | |
| Resources: | ||
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Excelsior Gold Limited (ASX: EXG) (“Excelsior Gold” or the “Company”) is pleased to provide a market update on ore reserves and operational matters. The new ore reserve statement for Zoroastrian South indicates a mine design that will produce approximately 14,000 ounces of contained gold (13,100 recovered ounces) at a grade of 2.1g/t Au from 210,000 tonnes of ore. The updated ore reserve statement for Bulletin South includes 250,000 tonnes of ore at 2.8g/t Au for 23,000 contained ounces of gold (21,200 recovered ounces). Target generation external to known resources is progressing, with re-processing and re-interpretation of geophysical datasets (aeromagnetics and gravity) and interrogation of other datasets including geological fact mapping, HyVista airborne hyperspectral mapping and the Exploration drilling database. In-pit and drillcore structural mapping is planned for April. This work seeks to expand the current mining interpretations of the Zoroastrian vein system into the regional framework and assist with identifying targets elsewhere in the Company’s tenure. Additionally, a program of spectral analysis on selected rock chips within and surrounding the Zoroastrian and Excelsior deposits will provide a new dataset to help refine the target generation process. These relatively low cost, but important programs, build on the current geological understanding of the project and will identify new targets within the prospective Bardoc Tectonic Zone. Drill evaluation of targets identified by these programs will commence once the Company has sufficient cash flow, which is expected to occur in the September quarter. | |
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