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Northern Manganese Ltd.
Summary
| Project: | Redcliffe Gold | |
|---|---|---|
| Deposit: | Golden Terrace South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-7-2016: Northern Manganese Ltd. announces an Exploration/Drilling Update report for its Golden Terrace South deposit at the Redcliffe Gold project. Drilling results incl. 44m @ 6.41g/t Au from 61m. The Company is pleased to announce single metre result | |
| Resources: | (Resource, I+I): 1.391Mt @ 2.02g/t Au at Golden Terrace South | |
| CP/QP: | [Overall Report]: Rodney Foster (Internal) | |
| ABSTRACT: | The Company is pleased to announce single metre results from the recently completed programme of 10 RC holes drilled at the Golden Terrace South (GTS) gold deposit. The results confirm gold contents indicated by preliminary composite sampling and typically define higher grade zones within the broader composite intercepts as the following selected intercepts indicate. The ten RC holes (GTRC378-387) were completed for a total of 1150 metres. The primary aim of these holes was to more accurately define the extent, geometry, and grade distribution of critical high grade gold zones. These zones are largely within the conceptual “phase 1 open pit” being considered to exploit the oxide/supergene zones although several of the deeper intersections extend outside the envelope. These results from single metre samples and geological information will be used to aid interpretation and resource modelling for the GTS deposit and lead to a resource estimate updated to JORC 2012 compliance. The current JORC 2004 compliant resource estimate for GTS is 90,000 ounces. (1,391,000t @ 2.02g/t, of which 707,000t @ 2.46g/t for 56,000oz is classified as Indicated and 684,000 @ 1.56g/t for 34,000oz as Inferred) A Mining Execution plan is to be reviewed along with financial studies to incorporate the new information and current gold price to enable decisions to be made on potential development scenarios. Additional diamond drilling is to be conducted to test the high grade shoot for structural information and to seek extensions at depth. | |
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