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Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Karari, Deep South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-2-2017: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Karari, Deep South deposit at the Carosue Dam project. Drilling results incl. 11.25m @ 13.21g/t Au from 200.55m. Saracen Managing Director Raleigh Finlayson s | |
| Resources: | (Reserve, P+P): 8.67Mt @ 1.55g/t for 432300oz Au contained Open Pit at Karari | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the latest drill results supported the Company’s strategy to grow production and mine life at its existing assets. “The recent decision to make substantial investments in new growth projects and long-term infrastructure reflects Saracen’s belief in the potential to grow the mine life at both Thunderbox and Carosue Dam,” he said. Drilling at the Karari underground mine has ramped up in the current quarter with the deployment of a second underground diamond drill rig. Drilling was initially focused on the southern Dhoni area while stoping activities temporarily restricted access into the northern 2070 drill drive position. The re-establishment of access to this northern drill position has accommodated the additional drilling capacity. With the critical grade control programs now complete, focus has turned to resource extension and deeper exploration drilling across the northern and southern areas of the mine. The early results of this drilling suggest mining at Karari is a long term proposition. Resource extension drilling has also returned some outstanding results outside the Reserve at both the northern (Hangingwall and Resurrection Lodes) and southern (Dhoni Lode) areas of the mine. With significant encouragement at depth, further step out drilling from surface is being assessed. The surface drilling would target the mineralisation below the limits of what can be drilled from the current underground drilling platforms and build significant visibility on the potential long life (+10 years) at the Karari mine. At Deep South, drilling extends the southern shoot 85m below the Reserve, and identifies a new high grade northern shoot 65m below the Reserve (recent results include 12.8m @ 7.3g/t, 12.1m @ 5.9g/t, and 7.3m @ 10.9g/t). | |
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