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Saracen Mineral Holdings Ltd.
Summary
| Project: | Thunderbox | |
|---|---|---|
| Deposit: | Thunderbox | |
| Location: | Australia | |
| Commodities: | Gold-Nickel | |
| Date: | 12/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-12-2016: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Thunderbox deposit at the Thunderbox project. Drilling results incl. 52m @ 3.0g/t Au. Drilling continues at Thunderbox with two surface diamond rigs. All RC p | |
| Resources: | (Reserve, P+P): 15.801Mt @ 1.7g/t Au for 864000oz Au contained at Thunderbox total | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Drilling continues at Thunderbox with two surface diamond rigs. All RC pre-collars are now complete. The program is progressing well, with successful directional drilling methods reducing the RC pre-collar component required. To date a total of 11,100m have been drilled with full results for 11 out of 14 completed holes. Drilling will continue into the June quarter 2017. The results to date confirm that the Thunderbox mineralisation is consistent and persistent. The dominant relationship between the mineralisation and the host lithology (dacite) has again been demonstrated, emphasising the continuity and predictability of the mineralisation. AMC Consultants has continued its work on the Thunderbox underground Feasibility Study, with additional geotechnical data now flowing through from the drill program. The initial results will also assist the selection of an appropriate mining method prior to the updated Resource model being released. The new results are adding to the confidence and scale of the upside opportunity that is present at the Thunderbox operation, which is focused on the thicker, higher grade A and C Zone shoots. Drilling at King of the Hills has been focused on grade control activities in the active mining areas, and nearmine extensions to the high-grade Lower Kingdom lode. Lower Kingdom is a flat northerly dipping lode which is currently being mined by handheld airleg methods. The lode width is variable and pinches and swells between 0.5m to 3.0m. The flat lying shear vein is highly continuous and recent drilling has intercepted the vein outside the previously known extents. | |
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