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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Dalgaranga | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-3-2017: Gascoyne Resources Ltd. announces a Resource Estimation report for its Dalgaranga deposit at the Dalgaranga project. Updated Mineral Resource Estimate for Dalgaranga. Gascoyne Resources Limited (“Gascoyne” “the Company”) (ASX:GCY) is pleased to | |
| Resources: | (Resource, Total): 29.6Mt @ 1.3g/t Au for 1.230Moz Au contained at project | |
| CP/QP: | [Resources]: Shaun Searle, Mike Dunbar (RPM Global;Internal) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” “the Company”) (ASX:GCY) is pleased to announce the updated Mineral Resource estimate for the Company’s 100% owned Dalgaranga Gold project in the Murchison region of Western Australia (see Figure 1 & 2). Importantly the new resource excludes the recent discovery at the Sly Fox Prospect where recent aircore drilling has been completed. The Mineral Resource update is for the Gilbeys deposit and includes a maiden Resource for Gilbeys South, less than 10 months after the discovery of the Gilbeys South zone. The Gilbeys Deposit Measured, Indicated and Inferred Mineral Resource now stands at 27.6Mt @ 1.3 g/t gold for 1,130,000 ounces of gold. The Measured and Indicated portion has increased to 16.4Mt @ 1.3 g/t gold for 685,000 ounces. Importantly with the inclusion of the Gilbeys South extensions to the deposit the Oxide portion of the resource has increased by 30% and the transitional portion increased by 49%. This has the potential to make a material difference to the development of the project as it significantly increases the proportion of “soft mill feed” in the early portion of the mine’s development. Modelling has shown that the proposed processing plant can treat this soft material at between 3.0 and 3.2Mtpa, well above the 2.5Mtpa rate used in the Feasibility Study, which has great potential to increase the production profile in the early years of development. | |
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