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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Widgiemooltha | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/14/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-9-2016: Mincor Resources NL announces an Exploration/Drilling Update report for its Widgiemooltha deposit at the Kambalda project. Drilling results incl. 10m @ 4.74g/t Au from 20m at Bass. Mincor Resources NL (ASX: MCR) is pleased to report more strong | |
| Resources: | (Resource, Total): 4.151Mt @ 1.8g/t Au for 238640oz Au contained | |
| CP/QP: | [Overall Report]: Rob Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR) is pleased to report more strong drilling results as part of its strategy to establish a substantial gold inventory at its Widgiemooltha Project in WA which, currently stands at 177,080 ounces of gold. The latest drilling results from the Bass deposit at Widgiemooltha contain intersections over significant widths with strong grades. The results highlight the potential for an increase in the existing JORC Resource of 30,340 ounces at Bass. These better-developed wider areas have higher metal concentrations of gold forming potential gold shoots along the 900-metre strike length of the Bass Shear Zone, which could add substantial value to the Project. Bass is one of five deposits recently drilled by Mincor at Widgiemooltha. Mincor’s latest drilling program was designed to infill and confirm its existing resource interpretations at Widgiemooltha, which estimate a current Indicated and Inferred Resource of 177,080 ounces in Indicated and Inferred Resources (Figure 1) at five deposits. Results already released from the first three deposits have provided support for the existing Resource models and identified strong new targets. The latest infill results continue this trend and provide further support for the existing Resource model at Bass, subject only to data integration and remodelling. The recent Bass results also reveal exciting new potential both down plunge and along strike (Figures 2 and 3). The increased density of drilling within the known Resource has revealed areas of wider mineralisation than previously suspected. If confirmed in the remodelling, this will be a very significant outcome, with the potential to improve the economic value of the Resource and highlighting the potential for down-plunge extensions to these high-value shoots (Figure 4). | |
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