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Saracen Mineral Holdings Ltd.

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Summary

Project:

Carosue Dam

Deposit:Carosue Dam
Location:Australia
Commodities:Gold
Date:10/12/2016
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Active Mining & Production
Report details:12-10-2016: Saracen Mineral Holdings Ltd. announces a Resource Estimation report for its Carosue Dam deposit at the Carosue Dam project. Annual update of mineral resources and ore reserves at project. Saracen Mineral Holdings (ASX: SAR) is pleased to anno
Resources:(Reserve, P+P): 10.628Mt @ 1.9g/t Au for 665500oz Au contained at Carosue Dam total
CP/QP:[Resources]: Daniel Howe (Internal)
ABSTRACT:Saracen Mineral Holdings (ASX: SAR) is pleased to announce the updated Mineral Resources and Ore Reserves Statements as at 30 June 2016, which underpin Saracen’s five-year production guidance. Saracen Managing Director Raleigh Finlayson said the result was strong, particularly given the modest exploration budget of the past financial year. “It is a particularly pleasing outcome given the limited exploration budget, which was restricted due to our strategy of funding the Thunderbox development from cashflow, which we did. “These results highlight the immense potential to grow both our production rate beyond the planned 300,000ozpa and our mine lives, hence our decision to triple this year’s exploration budget to A$42 million. “The initial drilling results from this year’s program already support this strategy and we look forward to more strong newsflow from our exploration campaign over coming months.”

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