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Independence Group NL
Summary
| Project: | Tropicana | |
|---|---|---|
| Deposit: | Havana South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/25/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-7-2016: Independence Group NL announces an Exploration/Drilling Update report for its Havana South deposit at the Tropicana project. JV with AngloGold Ashanti - drilling results incl. 15m @ 8.77g/t Au from 510m. Independence Group NL (Company) (ASX: IG | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Matt Dusci (Internal) | |
| ABSTRACT: | Independence Group NL (Company) (ASX: IGO) is pleased to report recent high-grade gold mineralisation intersected at Havana South, as part of a continued work program to unlock the upside potential of the Tropicana Gold Mine, a Joint Venture with AngloGold Ashanti Australia (AGAA). The extensive resource extension drilling program, which was initiated at Tropicana during 2015 to provide a framework for the understanding of the Tropicana Mineralised Complex, was completed in the June quarter. The drilling forms part of the ongoing mining studies internally referred to as the Long Island Study. IGO’s Managing Director, Peter Bradford, commented: “The recent significant drilling results returned from Havana South continues to highlight the potential of the Tropicana Mineralised Complex. The high-grade intersections are associated with a new ore-shoot, outside of the existing Mineral Resource. The ore-shoot remains open down plunge.” “The drilling program forms part of the joint venture partners’ commitment to unlocking the full potential of Tropicana. The completion of this phase of exploration, which has confirmed both the strike and depth extensions of mineralisation, along with the discovery of additional high-grade ore- shoots forms the framework for the Long Island Study. We are confident in the potential to drive a step change to the value of the Tropicana asset.” “The next phase in the work program is the delivery of the Mineral Resource during the September quarter. The timing has been pushed back slightly compared to the original schedule, due to an extension of the drill program to define the Havana South ore-shoot. The release to the market on the Long Island Project will be provided in the December quarter.” | |
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