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Saracen Mineral Holdings Ltd.
Summary
| Project: | Thunderbox | |
|---|---|---|
| Deposit: | Thunderbox | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/18/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 18-2-2020: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Thunderbox deposit at the Thunderbox project. Drilling results incl. 15m @ 11.18g/t Au from 150m. Saracen Managing Director Raleigh Finlayson said: “These res | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said: “These results show that Saracen continues to enjoy a strong growth outlook driven by both organic sources and prudent acquisitions. They are consistent with our goal to keep expanding our production and mine life for what are low discovery costs. At the same time, our Carosue Dam mill expansion is on track for commissioning in the December quarter, further underpinning our growth profile. Karari drilling has continued to focus on infill grade control following a solid increase in Ore Reserves to 1.2Moz at 30 June 2019. This drilling was the final program from the 1940 drill drive, with the new drill drive on the 1805 level now established. Recent drilling has returned thick high grade results further demonstrating the increasing grade profile with depth. Significant results include 21.9m @ 5.6g/t, 16.5m @ 6.9g/t and 14.0m @ 8.0g/t. The high grade shoots remain open at depth and will be tested further during FY20. The new 1805 drill platform is located 135m below the existing drill platform and will facilitate the next phase of Reserve growth, weighted to FY21. This will be counterbalanced by enhanced contributions in FY20 from other areas within the portfolio. Resource extension drilling has commenced and will continue to test the strong high grade mineralisation down plunge. | |
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