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Stonewall Resources Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | Columbia Hill | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 1/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2018: Stonewall Resources Ltd. announces an Exploration/Drilling Update report for its Columbia Hill deposit at the TGME project. Drilling results incl. 8m @ 4.34g/t Au from 23m. Stonewall MD Rob Thomson commented, “2017 was a pivotal year for Stonew | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Uwe Engelmann (Minxcon Projects (Pty) Ltd.) | |
| ABSTRACT: | Stonewall MD Rob Thomson commented, “2017 was a pivotal year for Stonewall, with an increase in our resource base by over 700koz, the completion of a Scoping Study on Rietfontein and Beta mines, and commencement of drilling on our open‐cut strategy. We expect 2018 to be equally as exciting for shareholders as we progress our near‐term production plans through a low‐capital, open‐cut strategy”. A total of 12 holes for 496 m has been completed at Columbia Hill (Figure 1), with follow‐up drilling planned following receipt of assays and completion of geological interpretation. Further assays are anticipated in coming weeks from the first round of drilling. Stonewall previously reported assays from the first 11 holes at Theta Hill (ASX release dated 21/12/2017) confirming high‐grade, gold‐bearing reef at shallow depth. A total of 613m has been drilled (11 RC holes) ranging in depth from 20m – 105m, with an average depth of 55.7m. Drilling aimed to intersect the Bevett’s, Upper Theta, Lower Theta and Beta Reefs. Overall, the results from this first stage drilling campaign are very positive, with numerous holes intersecting the primary Lower Theta reef target at Theta Hill with potential true reef grades of up to 55g/t postulated. At Columbia Hill on the Rho reef, a grade of approximately 9 g/t over an indicative 0.6m reef width was indicated by drill hole CHRC9 (Figure 2) at a depth of 22m, and a reef grade of >30g/t Au implied by the 1m @ 20.4g/t Au from 27m in CHRC9b. SWJ believes these flat lying reefs to be amenable to open cut mining. | |
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