For thousands of other reports visit RSC's Mineral Intellingence Map
Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Karari, Red October | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-7-2016: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Karari, Red October deposit at the Carosue Dam project. Drilling results incl. 27.7m @ 6.13g/t Au from 39.0m at Karari. Saracen Mineral Holdings (ASX: SAR) is | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Mineral Holdings (ASX: SAR) is pleased to advise that it has tripled its exploration budget to A$42 million for this financial year as part of a strategy to grow the inventory and production at its existing mines. The substantial commitment reflects Saracen’s high level of confidence in the organic growth credentials of its Carosue Dam and Thunderbox operations. The targets have resulted from the systematic and rigorous ranking of Saracen’s exploration portfolio over the past two years. The A$65 million capital requirement of the Thunderbox development resulted in a reduced exploration spend of only A$11.1 million and A$14.3 million in FY15 and FY16 respectively. Drilling has recommenced at the Karari Underground mine following the establishment of the first of two new hangingwall drill platforms (Figure 3 – green exploration drill drives). The 2070 drill drive (to the North) was completed in June 2016, with drilling commencing immediately after services were established. The two new drill platforms are a major commitment to the growth of the mine and will allow drilling ~300m further down dip on the known mineralisation. At the Red October underground mine the extensional drill program is now completed, Resource definition proximal to the mine infrastructure is nearing completion and deeper step out exploration continues. Underground extensional drilling following up the previously released result (0.4m @ 141g/t) did not return any further favourable results below the mine infrastructure. The dip of the Marlin Lode has flattened slightly and therefore became less favourable for dilation and subsequent brecciation. The change in dip is likely the result of the recently identified Lamprophyre intrusive which is thought to have intruded along a pre-existing structure (Figure 6). | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report