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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Widgiemooltha, North Kambalda | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 15-6-2017: Mincor Resources NL announces an Exploration/Drilling Update report for its Widgiemooltha, North Kambalda deposit at the Kambalda project. Drilling results incl. 7m @ 4.97g/t Au from 38m. Mincor Resources NL (ASX: MCR) is pleased to advise 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 advise that recent drilling targeting the growth potential of its Widgiemooltha Gold Project in WA has returned strong results, highlighting the opportunity to expand both Resources and Reserves as it advances its gold development strategy. The drilling was designed to build on the recently announced Widgiemooltha Gold Feasibility Study*, which confirmed the economic viability of a low capital cost start-up gold mining operation at Widgiemooltha based on extracting shallow Ore Reserves across 10 open pits with ore treated via a toll-treatment arrangement (Figure 1 and Figure 2). There is a high expectancy the latest infill results will provide an immediate boost to the in-pit Ore Reserves that are currently being prepared for production, while the extensional drilling results are likely to bring about an extension to the Resource inventory (subject to data integration and remodelling). At North Kambalda, drilling returned highly encouraging results from the Boundary East and Merry Hamptons East Prospects, confirming the fertility of their respective structures (the Woolibar and Ringneck Faults). These structures are located within the regional Tier-1 Boulder-Lefroy Fault Corridor, which hosts significant mines in the region. The intersections are open along their lightly-drilled strike and high priority follow-up drilling is planned (Figure 3 and Figure 4). | |
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