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NTM Gold Ltd.
Summary
| Project: | Redcliffe Gold | |
|---|---|---|
| Deposit: | Redcliffe Gold | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-6-2018: NTM Gold Ltd. announces a Resource Estimation report for its Redcliffe Gold deposit at the Redcliffe Gold project. Updated mineral resource estimate at project. Emerging Goldfields explorer NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pl | |
| Resources: | (Resource, I+I): 12.525Mt @ 1.34g/t Au for 537Koz Au contained | |
| CP/QP: | [Resources]: Andrew Bewsher (BM Geological Services) | |
| ABSTRACT: | Emerging Goldfields explorer NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pleased to announce the completion of the updated Mineral Resource estimate for its Redcliffe Project located near Leonora, Western Australia. The update incorporates infill and extensional reverse circulation (RC) and diamond drilling at a number of Redcliffe deposits including Nambi, Bindy and Golden Terrace South (GTS). In addition, the resources previously estimated under JORC 2004 have now been updated to JORC 2012 compliance. The Mineral Resource estimate, undertaken by independent resource consultants’ BM Geological Services Pty Ltd (BMGS), has resulted in a substantial increase in the Redcliffe resource base. The Mineral Resource estimate for the Redcliffe Project is now 12.5mt @ 1.34g/t for 537.9koz, using a 0.5g/t lower cut-off grade (See Table 1 for breakdown between indicated and inferred). This represents a 94% increase over the previous resource for the project (5.48mt @ 1.57 g/t for 277.6koz, [Indicated & Inferred] estimated under the JORC 2004 guidelines, based on a 0.5g/t lower cut). This resource update also breaks the deposits into oxide, transitional and fresh material for the first time. The estimate contains 2.8mt of oxide material, 3.8mt of transitional material and 5.9mt tonnes of fresh material. NTM Gold Managing Director Andrew Muir commented: “The updated Mineral Resource estimate for Redcliffe is a significant milestone for NTM that has been some time coming, following an extensive period of drilling. The updated 538koz resource highlights the potential of the Project and provides a key value point for NTM. However, we see significant upside beyond this resource, with many deposits still remaining open, as well as the potential for new discoveries with a sizeable portion of Redcliffe unexplored. The Company intends to expand exploration activities in the coming half, with drilling to target deposit extensions, follow-up on previous intercepts and greenfields testing of priority targets”. | |
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