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Hawthorn Resources Ltd.
Summary
| Project: | Anglo Saxon | |
|---|---|---|
| Deposit: | Anglo Saxon | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 20-6-2017: Hawthorn Resources Ltd. announces a Resource Estimation report for its Anglo Saxon deposit at the Anglo Saxon project. JV with Westgold Resources Ltd. - Initial Mineral Reserve Estimate at Anglo Saxon. Hawthorn Resources Limited (ASX:HAW) is pl | |
| Resources: | (Reserve, Prob.): 730,000t @ 2.66g/t Au for 62,000oz Au contained at Anglo Saxon | |
| CP/QP: | [Resources]: Andrew Bewsher (BM Geological Services) | |
| ABSTRACT: | Hawthorn Resources Limited (ASX:HAW) is pleased to announce a maiden Ore Reserve for the Anglo Saxon Gold Project (“ASGP”) at the Trouser Legs JV (HAW 70%, Gel Resources 30%) of: Probable Ore Reserve: o 730,000 t at 2.66 g/t Au - 62,000 Ounces of Gold. Hawthorn Resources, as manager of the Trouser Legs Joint Venture in the Eastern Goldfields of Western Australia, has finalised the technical and economic assessment of the ASGP, de-risking the project and allowing finalisation of the project budget and schedule. A revised Resource Model has been constructed by independent consultant’s BM Geological Services that better reflects the proposed mining methods and fleet likely to be used when mining commences. This Mineral Resource estimate supersedes the previous estimation “Anglo Saxon Indicated Mineral Resource Upgrade” announced in October of 2013 and completed by AMC Consultants. The associated cashflow model delivers robust returns and early cashflow from near surface ore following mine and haul road construction. Contracts for haul road construction are to be awarded in the upcoming quarter with mining contracts to follow. An additional 23,000 ounces of Indicated Mineral Resource contained within the pit optimisation have been excluded from the initial Open Pit Ore Reserve as preliminary underground mining studies suggest that improved economics may be achieved by utilising underground mining methods. | |
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