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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Widgiemooltha, Flinders West | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 28-6-2017: Mincor Resources NL announces an Exploration/Drilling Update report for its Widgiemooltha, Flinders West deposit at the Kambalda project. Drilling results incl. 8m @ 6.60g/t Au from 11m. Mincor Resources NL (ASX: MCR) is pleased to report that | |
| Resources: | (Reserve, Total): 823590t @ 2.7g/t Au for 72580oz Au contained at project | |
| CP/QP: | [Overall Report]: Robert Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR) is pleased to report that its Widgiemooltha Gold Project continues to demonstrate significant growth potential, with high quality new gold intersections achieved immediately west of the Flinders ore body. A new discovery, named Flinders West, has transformed an under-rated and lightly-drilled prospect, one of many such in the area, into a significant new asset. The quality of the Flinders West intersections – shallow, thick and high-grade – are striking, and underscore the evolving importance of the area north of West Oliver and west of Flinders. This area only makes up a small part of the Widgiemooltha Resource inventory. There is a high expectation the upcoming drilling program will materially expand both the existing Mineral Resources and Ore Reserves in the area. But what is really significant is that there are many similar target zones across the wider project, all of which are owned 100% by Mincor. The strong growth potential underlines the value of Mincor’s decision to press ahead towards mine development, on what the Company sees as a starter project to a much bigger gold business. First gold production is due before the end of the March Quarter 2018. Drilling will be a constant theme, as Mincor works to uncover the full value of this rich and historic gold district. “These results show two things,” said Mincor’s Managing Director, Mr Peter Muccilli. “They show that we almost certainly have a significant new resource at Flinders West, and secondly how strongly the Widgiemooltha Project rewards drilling. Every time we put a rig on site we find more gold. We will continue with the drilling programs as we move through implementation and pending final approvals, on to production. We are clearly only at the start of realising the full gold potential in the area. We just have to drill.” | |
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