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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Widgiemooltha | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/8/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-11-2016: Mincor Resources NL announces an Exploration/Drilling Update report for its Widgiemooltha deposit at the Kambalda project. Drilling results incl. 7m @ 12.60g/t Au from 16m at Boss. Mincor Resources NL (ASX: MCR) is pleased to advise that it has | |
| 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 advise that it has received strong initial results from follow-up drilling at its key gold projects at Widgiemooltha in Western Australia, with the first batch of assay results confirming shallow, high-grade mineralisation at the Bass Prospect and identifying an outstanding extensional target to the north of the existing resource. The main objective of the recently completed follow-up drilling program was to test the potential of the numerous additional gold trends discovered in the first round of drilling, which focused mainly on infill drilling of the existing resources. Widgiemooltha currently has an Indicated and Inferred Resource of 177,080 ounces of gold (Figure 1) across five prospects. The follow-up drilling program was designed to expand the gold inventory at Widgiemooltha before completion of feasibility studies, which have already commenced. Mincor's core strategy is to build a long-term gold business through the early development of gold cash flows, while simultaneously maintaining and enhancing the Company's strong option on a recovery in the nickel price Assay results are still awaited for the West Oliver, Hronsky and Flinders prospects. No further drilling was undertaken at the Darlek Prospect during the recently completed program. Mincor completed 35 reverse circulation (RC) drill holes at Bass in this latest round of drilling, for a total of 1,404 metres. The existing Resource contains an estimated 30,340 ounces of gold over a strike length of 900 metres and remains open to the north and down-dip (Figure 2). | |
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