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Saracen Mineral Holdings Ltd.
Summary
| Project: | Thunderbox | |
|---|---|---|
| Deposit: | Thunderbox | |
| Location: | Australia | |
| Commodities: | Gold-Nickel | |
| Date: | 11/27/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-11-2018: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Thunderbox deposit at the Thunderbox project. Drilling results incl. 37.4m @ 2.8g/t Au from 285.9m. Saracen Managing Director Raleigh Finlayson said the resu | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the results showed the Company’s organic growth strategy was progressing to plan. “This is an outstanding start to our FY19 exploration campaign,” Mr Finlayson said. “We have outlined a clear strategy to increase production to 400,000 ounces per annum based on organic growth and these results show that this strategy is well on track. “The two discoveries in the Carosue Dam Corridor are promising and demonstrate the key role this area stands to play in growing our inventory, which will in turn underpin increases in our production and cashflow.” Additional surface and underground drill rigs have been mobilised to accelerate both the exploration and resource definition efforts. Early results from the increased activity highlight the potential to unlock significant value and further extend mine life. Drilling has been focused on Drilling at Karari has continued in the north from the 1940 drill drive and in the south from the 1916 drill drive. The drilling has targeted extensions to the mineralisation outside the Ore Reserve, which was published in August 2018. This has returned some highly encouraging results in both the north and south of the mine. | |
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