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Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Carosue Dam | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-7-2019: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Carosue Dam deposit at the Carosue Dam project. Drilling results incl. 45.65m @ 6.28g/t Au from 321.15m. Saracen Managing Director Raleigh Finlayson said the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the record $56 million investment in exploration during FY19 was more than paying off. “We’ve long said that organic growth would be central to our strategy of growing production and mine life and these exceptional drilling results support this approach,” Mr Finlayson said. “The results from resource extension drilling show we are continuing to grow our existing deposits, which is highly desirable from an economic perspective, while the results from Atbara demonstrate what a promising discovery it is, with a strike of 860m and mineralisation which remains open in every direction. Investment in near-mine exploration is generating extremely strong returns for shareholders and will be supplemented by low risk bolt-on acquisitions, giving us two highly capital-efficient means of growing production, cash flow and mine life.” Saracen Mineral Holdings (ASX: SAR) is pleased to report another round of strong drilling results from in and around its gold operations in Western Australia. Saracen considers the results to be particularly important because they provide more evidence that its investment in exploration, which hit a record $56 million in FY19, is generating outstanding returns for shareholders. During the year an astonishing 438,000m of drilling was completed, with over 92,000m of core being cut across the group. The strong drilling results delivered consistently throughout FY19 will culminate in the Company’s Reserves and Resources update due for release in coming days. The updated Reserves and Resources will in turn underpin Saracen’s seven-year outlook, which will be released at the same time. | |
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