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Resources & Energy Group Ltd.
Summary
| Project: | Radio | |
|---|---|---|
| Deposit: | Radio | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-7-2018: Resources & Energy Group Ltd. announces a Resource Estimation report for its Radio deposit at the Radio project. Initial mineral resource estimate at Radio gold mine. Resources and Energy Group Limited ASX: REZ (“REZ” or the “Company”) is please | |
| Resources: | (Resource, I+I): 210.7Kt @ 4.23g/t Au for 28.6Koz Au contained | |
| CP/QP: | [Resources]: Todd Axford, Micheal Johnstone (Geko-Co Pty Ltd.;Minerva Geological Services Pty Ltd.) | |
| ABSTRACT: | Resources and Energy Group Limited ASX: REZ (“REZ” or the “Company”) is pleased to announce the maiden JORC 2012 resource compiled for the Radio Gold Mine. The resource has been developed from historical exploration records and recent geological sampling programs. The geological understanding of the Radio Gold ore body and mineralisation controls has advanced significantly as a result of this work. Further mine development, sampling and drilling programs have been optimised based on the improved knowledge of the deposit. A surface drilling program has been developed to test the resource inventory immediately adjacent to the defined resource with step out holes planned to increase the overall footprint of the Radio Gold deposit. Operationally, the underground haulage infrastructure setup is now complete and the underground development bulk sampling activity continues. After a successful second processing campaign and a boost in cashflow, a third ore processing campaign is planned in July 2018 at the Minjar Marvel Loch processing facility. Resources & Energy Group Limited (“REZ” or “The Company”) is pleased to provide a Mineral Resource estimate for the Radio Gold Mine, located near Bullfinch at the northern end of the Southern Cross Greenstone Belt in the Yilgarn Craton, Western Australia. Following completion of a face sampling program the Company’s wholly owned subsidiary Radio Gold Pty Ltd contracted Mr Stephen Pearson, Todd Axford, and Michael Johnstone to complete a Mineral Resource estimate for the Radio Resource under JORC 2012 guidelines. The results of this work are outlined in this announcement. Additional details of the geological context and estimation procedures used in this mineral resource estimate are included in the attached JORC Table 1 assessment and accompanying Appendix 1, which provides details of drill holes and mineralised intervals which have been used in this resource estimate. | |
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