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Saracen Mineral Holdings Ltd.
Summary
| Project: | Thunderbox | |
|---|---|---|
| Deposit: | Thunderbox | |
| Location: | Australia | |
| Commodities: | Gold-Nickel | |
| Date: | 4/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 30-4-2019: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Thunderbox deposit at the Thunderbox project. Drilling results incl. 43.0m @ 3.74g/t Au from 45m. Saracen Managing Director Raleigh Finlayson said the newly-d | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the newly-discovered mineralisation would feed into the upcoming Reserve and Resource update, which would in turn underpin the Company’s seven-year growth strategy. “Our aim is to grow production to 400,000oz a year while maintaining long mine lives and these outstanding results show we are on track to achieve that goal,” Mr Finlayson said. “We are finding extensive mineralisation outside of the existing Resources at both Carosue Dam and Thunderbox, including the rapidly emerging discovery at Atbara.” At the end of March 2019 A$38m of the total has been invested with strong results across the portfolio. The exploration success has prompted an increase in the FY19 capital development budget by A$35m (previously announced). This will accelerate underground development at Carosue Dam and Thunderbox, ensuring both the increased production rate and mine lives are maintained | |
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