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Keras Resources Plc
Summary
| Project: | Prince of Wales | |
|---|---|---|
| Deposit: | Prince of Wales | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/15/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-6-2016: Keras Resources Plc announces an Exploration/Drilling Update report for its Prince of Wales deposit at the Prince of Wales project. Drilling results incl. 7m @ 7.11g/t Au from 66m. Keras Resources Ltd, the Australian gold mining company, is ple | |
| Resources: | Historic resource of 154000t @ 8g/t Au at Prince of Wales | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Keras Resources Ltd, the Australian gold mining company, is pleased to announce that reverse circulation (‘RC’) drilling at the Prince of Wales (‘PoW’) project, located in the Grants Patch lease area, has returned economic, high-grade results including 3m at 14.64 g/t gold (Au) from 66m (PWRC005) and 3m at 7.25g/t Au from 60m (PWRC002) and show positive grade continuity. Keras Managing Director Dave Reeves said, “These results demonstrate the high-grade nature of mineralisation at Prince of Wales, open up areas of the asset previously not contemplated for mining and reinforce our view on the value of the project. The ability to access high-grade ore during the development phase of mining will greatly enhance our cash flow position. Work has now commenced on re-accessing the Consols decline with the clean-up of the pit and re-establishment of the portal area. It is envisaged that we will be able to access this ore in Q4 2016 which will provide high-margin material for the Company to add to the cash flow already being generated.” | |
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