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Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Karari, Deep South, Butcher Well | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 13-7-2017: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Karari, Deep South, Butcher Well deposit at the Carosue Dam project. Drilling results incl. 18m @ 12.9g/t Au from 184m. Saracen Managing Director Raleigh Finl | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the Company’s record investment in drilling over the past year was continuing to deliver outstanding results, highlighting the potential for further significant growth beyond the resource/reserve update due early next month. “The deeper drilling at the Karari underground mine is particularly encouraging, with each additional hole not only growing the deposit, but also pointing to higher grades in the future. Given its location immediately adjacent to the Carosue Dam mill, there is no better place to find more highgrade ore,” he said. Drilling at Karari has progressed rapidly over the last two months, focused on extending and in-filling both the north and south ends of the mine. Over the past 12 months, Saracen has made a substantial investment in drilling at Karari, completing 58,708m of underground diamond drilling. This drilling points to significant mine life upside at Karari, already extending up to 270m below the 2016 Ore Reserve. Recent results confirm the continuity of the mineralisation. The most recent batch of drill results at Karari are the most impressive seen to date. The results highlight the excellent widths and grades at both the north and south ends of the mine. The drilling results are currently being incorporated into an updated Mineral Resource estimate, due to be released in the September quarter 2017. The mineralisation remains open in all directions and will be aggressively tested in FY2018. A row of deep framework holes will be drilled from the existing underground platforms in the coming months. This drilling will target the mineralisation ~560m below surface. | |
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