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Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Carosue Dam | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-2-2019: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Carosue Dam deposit at the Carosue Dam project. Drilling results incl. 69m @ 4.1g/t Au from 384.65m. Saracen Managing Director Raleigh Finlayson said the late | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the latest results showed that the Company’s organic growth strategy was progressing to plan. “The record $60 million exploration budget we set for this financial year continues to deliver outstanding results across our assets,” Mr Finlayson said. “The results continue to pave the way for Resource increases and upgrades at both Carosue Dam and Thunderbox. This is central to our strategy of growing the inventory, which will then allow us to pursue our 400,000oz a year production target.” Exploration and drilling has increased significantly across Saracen’s portfolio with a A$60m investment planned over FY19. The A$60m of exploration can be broken up into the following items and estimated spend. At the end of January 2019 A$31m of the total has been invested with strong results across the portfolio. The exploration success has prompted an increase in the FY19 capital development budget by A$35m (previously announced). This will accelerate underground development at Car | |
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