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Saracen Mineral Holdings Ltd.
Summary
| Project: | Thunderbox | |
|---|---|---|
| Deposit: | Kailis | |
| Location: | Australia | |
| Commodities: | Gold-Nickel | |
| Date: | 5/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 1-5-2017: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Kailis deposit at the Thunderbox project. Drilling results incl. 12m @ 30.36g/t Au from 58m. Saracen Managing Director Raleigh Finlayson said the results marke | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the results marked the start of what is expected to be a sustained period of strong news flow spanning exploration, development and production. Saracen Managing Director Raleigh Finlayson said the results marked the start of what is expected to be a sustained period of strong news flow spanning exploration, development and production. “Saracen is entering a period in which we expect to reap the rewards of the investments we have made,” Mr Finlayson said. “This will be evident in our rising production rates, falling costs, increased cash generation and strong exploration results as we pursue known mineralisation along strike and at depth in several locations.” Mining has commenced at Kailis, expediting the production of higher grade soft oxide / transitional ore. This material will supplement the Thunderbox ore and act as a blending agent to optimise throughput. A resource definition RC drill program confirmed the geological interpretation and highlighted the presence of very high grade mineralisation. W ith drilling continuing across the mining portfolio, and an increased weighting towards extensional work in the current June half, significant news flow can be anticipated over the remainder of FY2017. The program remains appropriately focused on high impact / high probability drilling. | |
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