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Saracen Mineral Holdings Ltd.
Summary
| Project: | Thunderbox | |
|---|---|---|
| Deposit: | Thunderbox A Zone | |
| Location: | Australia | |
| Commodities: | Gold-Nickel | |
| Date: | 7/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 13-7-2017: Saracen Mineral Holdings Ltd. announces an Exploration/Drilling Update report for its Thunderbox A Zone deposit at the Thunderbox project. Drilling results incl. 47.12m @ 2.18g/t Au from 652.08m. Saracen Managing Director Raleigh Finlayson said | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Howe (Internal) | |
| ABSTRACT: | Saracen Managing Director Raleigh Finlayson said the Company’s record investment in drilling over the past year was continuing to deliver outstanding results, highlighting the potential for further significant growth beyond the resource/reserve update due early next month. “The deeper drilling at the Karari underground mine is particularly encouraging, with each additional hole not only growing the deposit, but also pointing to higher grades in the future. Given its location immediately adjacent to the Carosue Dam mill, there is no better place to find more highgrade ore,” he said. The deep surface drilling program at Thunderbox has been completed and all results received. The new results continue to show that the consistent broad mineralisation seen in the upper Zone A extends at depth, both vertically and down-plunge. The mineralisation in the recent drilling continues to display consistent and persistent widths and grades associated with the dacite host unit. AMC Consultants have included the latest drill results in the underground Feasibility Study (completion anticipated in the September quarter 2017). The focus area of the study can be seen in Figure 5. The mineralisation is amenable to bulk, low cost mining methods. This has the potential to add significant mine life to the Thunderbox operations. Ongoing geological assessment will determine the most prospective areas proximal to the current Mineral Resource. This will direct the location of future drill programs in FY18, to maximise further success and deliver additional mine life. | |
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