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Panoramic Resources Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Gum Creek | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-10-2016: Panoramic Resources Ltd. announces a Supporting Acquisition report for its Gum Creek deposit at the Gum Creek project. Technical report for project in support of acquisition by Horizon Gold Ltd.. Horizon Gold Limited (Horizon) has commissioned | |
| Resources: | (Resource, I+I): 17.303Mt @ 2.25g/t Au for 1.25Moz Au contained | |
| CP/QP: | [Resources]: Spero Caras, Andrew Bewsher, Ben Pollard (Carras Mining Pty Ltd.;BM Geological Services) | |
| ABSTRACT: | Horizon Gold Limited (Horizon) has commissioned Paul Patrick Mazzoni, trading as Tuscan Geoscience (Tuscan), to prepare an Independent Technical Report (ITR) for the Gum Creek Gold Project (the “Project”). Gum Creek is an advanced exploration and pre-development gold project on the Yilgarn Craton of Western Australia. It is understood that the ITR is required for inclusion in a Prospectus to support the listing of Horizon Gold Limited on the Australian Securities Exchange (ASX). Horizon intends raising A$15 million through the issuance of 37.5 million shares at A$0.40 per share. An exploration and project development studies budget for the first two years following listing has been prepared by Horizon. The total proposed budget is A$13.09M. A total of A$1.95M is allocated to Project development studies and A$9.59M to Exploration (including leasing costs and site care and maintenance). The Independent Technical Report has been prepared in accordance with the Code and Guidelines for Assessment and Valuation of Mineral and Petroleum Assets and Securities for Independent Expert Reports (“The Valmin Code” 2015 Edition) and the regulatory guidelines issued by the ASIC which pertain to Independent Expert Reports. The report is also consistent with the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves of December 2012 (“The JORC Code 2012 Edition”). The Independent Technical Report has been prepared based on information available up to and including 14 October 2016. | |
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