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Stonewall Resources Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | Rietfontein | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 2/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-2-2017: Stonewall Resources Ltd. announces a Resource Estimation report for its Rietfontein deposit at the TGME project. Updated Mineral Resource for Rietfontein & exploration targets identified. Stonewall Resources Limited (ASX: SWJ) (“Stonewall” or th | |
| Resources: | (Resource, M+I): 720kt @ 10.06g/t Au for 240000oz Gold contained at project | |
| CP/QP: | [Resources]: Uwe Engelmann (Minxcon Pty Ltd.) | |
| ABSTRACT: | Stonewall Resources Limited (ASX: SWJ) (“Stonewall” or the “Company”) is pleased to announce a new and updated JORC Mineral Resource for the Rietfontein Gold project in South Africa. The updated Mineral Resource was compiled by geological consultants Minxcon (Pty) Ltd (“Minxcon”) of South Africa in accordance with the JORC (2012) Reporting Code. Stonewall Managing Director Rob Thomson said, “On December 21, 2016 Stonewall announced on the ASX a new direction for the Company with the objective to establish commercial gold operations targeting staged development to 100,000+ ozpa and increasing shareholder value in the process. At this time Stonewall introduced the Rietfontein project, flagging the opportunities that this old mine may provide in achieving this objective. We are pleased to announce that work conducted by Minxcon and Stonewall indicates that Rietfontein is a high-grade gold mine project with tremendous commercial potential with the capacity for significant growth to underpin the Companies development of its gold assets in South Africa. This result demonstrates the value of re-examining the old gold mines on our tenements. We are also conducting similar reviews looking for the higher value components of other hard rock high grade projects such as Beta adjacent to the TGME processing facility. This approach looking for higher value components of the existing resources is also being applied to the ongoing work on the PMR project. Stonewall has more than 50 historical hard-rock mines in its portfolio.” | |
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