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Stonewall Resources Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | Beta | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 3/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-3-2017: Stonewall Resources Ltd. announces a Resource Estimation report for its Beta deposit at the TGME project. Updated Mineral Resource Estimate at Beta. The Board of Stonewall Resources Limited (ASX: SWJ) (“Stonewall or Company”) is pleased to anno | |
| Resources: | (Resource, I+I): 4.72Mt @ 6.61g/t Au for 1Moz Au contained at project | |
| CP/QP: | [Overall Report]: Uwe Engelmann (Minxcon Projects (Pty) Ltd. Consulting (Pty) Ltd.) | |
| ABSTRACT: | The Board of Stonewall Resources Limited (ASX: SWJ) (“Stonewall or Company”) is pleased to announce the completion of a review into the Company’s Beta hard‐rock mine development. The Mineral Resource review was delivered by South African geological consultants Minxcon, conducted in accordance with the JORC (2012) Reporting Code. Beta contains a JORC Mineral Resource of 4.72Mt @ 6.61g/t for 1.00 Moz (48% Indicated & 52% Inferred). This compares to the previously estimated (JORC 2004 compliant) resource in 2011 of 6.75Mt @ 3.4g/t Au for 0.71Moz (87% inferred). This represents a 42% increase in contained ounces and a 100% uplift in grade. This increase has been enabled by incorporating further identified drilling results, reconstructing the geological model in 3D, and other techniques as outlined in this release. This resource excludes any Pre‐mined Residue (PMR) material however, assessment of this material continues. Managing Director Rob Thomson: “Stonewall is pleased that this review into the potential at Beta has shown a much higher grade than previously thought. We continue to review all high grade areas within our resource portfolio, and have been surprised by the grades and existing development we are discovering. We plan to commence drilling to upgrade the resources in coming months. We are focused on bringing both Rietfontein and Beta into production in 2018. These fully permitted, high grade projects are expected to underpin our medium term development strategy.” | |
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