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KBL Mining Ltd.
Summary
| Project: | Mineral Hill | |
|---|---|---|
| Deposit: | Pearse North | |
| Location: | Australia | |
| Commodities: | Gold-Silver | |
| Date: | 6/16/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 16-6-2016: KBL Mining Ltd. announces a Resource Estimation report for its Pearse North deposit at the Mineral Hill project. Updated mineral resource estimate and Initial open cut ore reserve for Pearse North deposit. KBL Mining Limited (ASX: “KBL” or “the | |
| Resources: | (Reserve, P+P): 179Kt @ 2.5g/t Au, 21g/t Ag at Pearse North | |
| CP/QP: | [Resources]: Owen Thomas (Internal) | |
| ABSTRACT: | KBL Mining Limited (ASX: “KBL” or “the Company”) is pleased to announce a new Mineral Resource and maiden open cut Ore Reserve for the Pearse North deposit following the successful completion of infill and extensional drilling. This represents an important milestone in the development pathway of the project with the approvals process having commenced in March 2016. The Pearse North deposit, approximately 200 metres northwest of the operating Pearse open cut gold mine (which had a pre-mining reserve of 235 thousand tonnes at 6.9g/t gold and 71.7g/t silver2 ), is a shearhosted epithermal gold–silver deposit of the same style as Pearse. At the Pearse deposits, gold is associated with a fine-grained pyrite–arsenopyrite–stibnite assemblage hosted in altered siliceous volcaniclastic rocks within a zone marked by a strong shear fabric. The progression of the approvals process is expected to coincide with an increased exploration effort across the broader Pearse corridor initially focussing on shallow RAB drilling and geochemical sampling in an area of poor outcrop, between and to the east and south of the Pearse deposits. An updated Mineral Resource estimate incorporating new drill results and additional geological data was completed during May in support of the reported Ore Reserve estimation and mine planning. This resource comprises 298kt at 2.7g/t gold and 26g/t silver (at a cut-off of 1g/t Au for Oxide & 1.5g/t for Transitional and Fresh)3 and is inclusive of the maiden Ore Reserve estimate of 179kt at 2.5g/t gold and 21g/t silver (at a cut-off of 1g/t Au for Oxide & 1.5g/t for Transitional and Fresh). | |
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