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Southern Gold Ltd.
Summary
| Project: | Bulong | |
|---|---|---|
| Deposit: | Cannon Mine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 9-10-2017: Southern Gold Ltd. announces a Resource Estimation report for its Cannon Mine deposit at the Bulong project. Updated mineral resource at Cannon Gold Mine. Australian gold producer, Southern Gold Ltd, is pleased to announce a new gold resource e | |
| Resources: | (Resource I+I): 142Kt @ 5.2g/t Au for 23.6Koz Au contained at Cannon | |
| CP/QP: | [Overall Report]: Paul Androvic (Internal) | |
| ABSTRACT: | Australian gold producer, Southern Gold Ltd, is pleased to announce a new gold resource estimate, defined in accordance with the 2012 JORC code, at the Company’s Cannon gold mine, near Kalgoorlie, WA (Figure 1). The underground gold resource is contained on mining lease M25/333 and constrained to its northern boundary at 6590205mN where it abuts the Georges Reward deposit on M25/357 (a Westgold Resources project) and is summarised in Table 1 by category. Managing Director, Mr Simon Mitchell: “An evaluation of the Cannon underground resource is now underway to assess the potential for a mineable reserve and to evaluate a suitable cost model to the Company. The high confidence of the Cannon mineralisation, the good history of ore reconciliation within the now fully mined open-pit and good geological understanding points to the underground inventory being a small but high quality resource. Taken with the proximity to Kalgoorlie and the presence of many contractors with experience in underground operations in the Eastern Goldfields, there is every confidence that Cannon will move into its next mining phase.” “Our technical team at Southern Gold is very confident that the Cannon mineralisation below the open-pit can convert to cash flow. Over the next few months the Company will investigate ways to do that and will keep an open mind on the development model. The mineral resource announced today displays consistent high grades and good widths that should result, on current indicators, in very profitable underground mining.” | |
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