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Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Karari, Deep South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-5-2017: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Karari, Deep South deposit at the Carosue Dam project. Drilling results incl. 32.6m @ 24.5g/t Au from 146.5m. Saracen Managing Director Raleigh Finlayson said | |
| 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 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. “I would like to commend Karari Underground Manager Drew Bradshaw and his team on successfully ramping-up the Karari mine to more than 1Mtpa, three months ahead of schedule.” Drilling at the Karari underground has continued at an aggressive pace over the last two months. The drilling has focused on defining the distal strike extents of the previously tested mineralisation. The solid drill results highlight the significant growth opportunity at Karari, and confirm the mineralisation remains open in all directions. With significant encouragement at depth and along strike, drilling in FY18 will aim to target the mineralisation below the limits of what can be drilled from the current underground drilling platforms. The establishment of new platforms at depth will facilitate further extensions and build significant visibility on the potential long life (+10 years) at the Karari mine. | |
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