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Saracen Mineral Holdings Ltd.
Summary
| Project: | Thunderbox | |
|---|---|---|
| Deposit: | D Zone | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/31/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 31-7-2018: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its D Zone deposit at the Thunderbox project. Drilling results incl. 74m @ 1.65g/t Au from 70m. Saracen Managing Director Raleigh Finlayson said the drilling resu | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the drilling results continued to support the Company’s growth strategy. “These results provide further justification of our decision to invest in organic growth,” Mr Finlayson said. “We are confident that both Carosue Dam and Thunderbox will reward us with further increases in the inventory which will enable us to continue growing production in line with our seven-year plan.” Recent drilling at Carosue Dam has focused on resource definition outside the 2017 Ore Reserve. The aim of this drilling is to extend and define additional Mineral Resource which can be assessed for future Ore Reserves. Three underground drills have operated between Karari and Whirling Dervish and continue to deliver outstanding results. Surface drilling along the Carosue Dam Corridor has also commenced. Early results highlight the upside along the key stratigraphic and structural trend. A significant program is planned in FY19. Karari Underground With the completion of the 1940 drill drive, two rigs have tested for extensions along strike and below the 2017 Ore Reserve. The new drive is well positioned to facilitate the drilling required for future Ore Reserve conversion. The latest drilling results continue to demonstrate the outstanding growth opportunity that exists at Karari (Figure 1). Results include 16.2m @ 16.2g/t, 14.7m @ 10.2g/t, 19.0m @ 6.3g/t and 14.4m @ 8.3g/t. Drilling will resume in the south of the mine upon completion of the next drill platform (1916 drill drive), anticipated in the current September quarter 2018. | |
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