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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Dalgaranga | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/10/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-6-2020: Gascoyne Resources Ltd. announces a Resource Estimation report for its Dalgaranga deposit at the Dalgaranga project. Updated Mineral Resource Estimate for Project. The updated Ore Reserve and Life Of Mine Plan (“LOMP”) for Dalgaranga is current | |
| Resources: | (Reserves, P+P): 16.9Mt @ 0.9g/t Au (501.8koz Au) | |
| CP/QP: | [Resource] Michael Job, Michael Millad, Scott Dunham (SD2 Pty Ltd.) | |
| ABSTRACT: | The updated Ore Reserve and Life Of Mine Plan (“LOMP”) for Dalgaranga is currently being finalised and due for release in the coming weeks. The updated Ore Reserve and LOMP is the result of greatly increased working knowledge and is majority based on the more predictable fresh component of the Gilbey’s Main Zone (“GMZ”). It will be generated using the updated Localised Uniform Conditioning (“LUC”) Resource model focussing on accessing the GMZ ore, with mine sequencing and processing schedules that maximise value. Dalgaranga Resource Update Gascoyne engaged independent consultants to update the Mineral Resource modelling and estimation. New Mineral Resource estimates for the Gilbey’s area (Gilbey’s, Gilbey’s South, Sly Fox and Plymouth deposits) have been completed by Cube Consulting Pty Ltd (“Cube”). The updated Golden Wings deposit LUC model and Mineral Resource estimation was completed by SD2 Pty Ltd (“SD2”). It is very encouraging to see the new resource model compares closely with the reconciled Equigold historical production from the Gilbey’s main pit giving even further confidence in the operation going forward. The Mineral Resource estimate is reported within a A$2,8001 per ounce of gold optimised pit shell in order to capture any mineralisation that may fall within an increasing gold price in the future. The updated Ore Reserves and LOMP will be a subset of the resource estimated at a more conservative gold price to take account of the current gold price and fluctuations in price during operations. The updated global Dalgaranga Mineral Resource estimate is shown below in Table 1 and Table 2. | |
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