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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Sly Fox | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-8-2017: Gascoyne Resources Ltd. announces a Resource Estimation report for its Sly Fox deposit at the Dalgaranga project. 25% increase in Indicated Resources at Sly Fox. Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to announc | |
| Resources: | (Resource, I+I): 1.7Mt @ 1.5g/t Au for 83koz Au contained at Sly Fox | |
| CP/QP: | [Resources]: Shaun Searle (RPMGlobal Holdings Ltd.) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to announce an updated Mineral Resource estimate for the Company’s 100% owned Sly Fox gold deposit located less than 2km from the proposed Dalgaranga Gold Process Plant. The Sly Fox Mineral Resource has been updated to 1.7Mt @ 1.5 g/t Au for 83,000 ounces of gold. The addition of this new Resource increases the global Dalgaranga Gold Project Resources to 31.3Mt @ 1.3 g/t Au for 1,320,000 ounces of contained gold including Proved and Probable Ore Reserves of 581,000 ounces of gold (see Figures 1 & 2 & Tables 1 & 2) below). The Ore Reserves exclude the Sly Fox Mineral Resource. Gascoyne’s Managing Director Mr Mike Dunbar commented; “This new Mineral Resource estimate for the Sly Fox deposit further enhances the Dalgaranga Gold Project and demonstrates the potential to further extend the mine life of the Project. With the Resource updated and the increase in the Resource confidence, it is expected that a maiden Ore Reserve for Sly Fox will be completed in the next month, less than 6 months since the deposit was discovered. The addition of these shallow and soft ores through the mill in the early years is expected to lift the production rates in the early years of production” | |
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