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Regis Resources Ltd.
Summary
| Project: | Duketon | |
|---|---|---|
| Deposit: | Tooheys Well | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-7-2016: Regis Resources Ltd. announces a Resource Estimation report for its Tooheys Well deposit at the Duketon project. Initial mineral resource estimated for Tooheys Well deposit at Duketon project. The Tooheys Well gold project is located on a grant | |
| Resources: | (Resource, Inf.): 14.6Mt @ 1.16g/t Au for 547000oz Au contained at Tooheys Well | |
| CP/QP: | [Resources]: Jarrad Price (Internal) | |
| ABSTRACT: | The Tooheys Well gold project is located on a granted Mining Lease, 2.5km south of the Garden Well gold mine and 5mtpa processing plant. Gold mineralisation was previously defined in two north south trending Western and Eastern shear zones 100 metres apart hosted in Banded Iron Formation (BIF), chert and fine grained sediments. RC and diamond drilling in the March 2016 quarter defined high grade gold mineralisation along the Eastern shear zone and this was followed-up with further RC and diamond drilling in the June 2016 quarter. This MRE will be subject to further infill and extensional drilling over the coming quarters with a view to updating it to be used as the basis for a maiden Ore Reserve estimate later in 2016. Regis has quoted the maiden Inferred MRE for the Tooheys Well Gold Project at a 0.4g/t gold lower cut. However, it is particularly encouraging that the MRE reported above a 1.0g/t gold cut-off grade is 6.7 Mt @ 1.77 g/t. gold for 379,000 ounces. This represents 70% of the MRE with an average grade of 1.77g/t gold and is the result of the very regular wide intercepts of high grade mineralisation encountered at Tooheys Well. Regis Executive Chairman, Mark Clark commented: “It is very exciting to see the latest phase of our organic growth strategy deliver a 547,000 ounce maiden gold resource at the Tooheys Well project. With Tooheys Well located so close to the Garden Well processing plant, Regis is already working on this project with a view to delivering a substantial, high grade mill feed satellite project for Garden Well. We also look forward to continuing our intensive exploration effort in the Tooheys Well area and beyond.” | |
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