For thousands of other reports visit RSC's Mineral Intellingence Map
Saracen Mineral Holdings Ltd.
Summary
| Project: | Carosue Dam | |
|---|---|---|
| Deposit: | Karari, Red October, Deep South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-9-2016: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Karari, Red October, Deep South deposit at the Carosue Dam project. Drilling results incl. 24.0m @ 5.38g/t Au from 178m at Karari. Saracen Mineral Holdings (AS | |
| 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 reaped immediate rewards from the decision to triple its annual exploration budget to A$42 million for FY2017 with strong early drilling results clearly demonstrating the potential to grow resources and mine life across its two operational centres. Aggressive drilling programs are continuing in line with the expanded exploration budget, which is designed to grow the inventory and production at its existing mines (see ASX Announcement – 27th July 2016). 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 been developed following a systematic and rigorous ranking of Saracen’s exploration portfolio over the past two years. The A$65 million capital requirement for the recently completed Thunderbox development resulted in a reduced exploration spend of only A$11.1 million and A$14.3 million in FY15 and FY16 respectively. The strong prospectivity is underlined by recent drilling results from the high-grade King of the Hills (KOTH) Project (an emerging satellite mine near the Thunderbox Operations), the rapidly growing Karari mine (Carosue Dam Operations), a new high-grade discovery (Lionfish) at Red October (Carosue Dam), and consistent grade control work at Deep South (Carosue Dam). With drilling underway at all key projects as budgeted, significant news flow is anticipated throughout FY17. | |
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