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Stonewall Resources Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | Theta Hill | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 5/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-5-2018: Stonewall Resources Ltd. announces an Exploration/Drilling Update report for its Theta Hill deposit at the TGME project. Drilling results incl. 1m @ 126g/t Au from 33m. Following continued encouragement from the drilling at Theta Hill, and supp | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Phil Bentley (Internal) | |
| ABSTRACT: | Following continued encouragement from the drilling at Theta Hill, and support from our new cornerstone shareholder through the recent A$5m funding1 , Stonewall Resources (ASX: SWJ, SWJO) ‘Company’ is expecting a third drilling rig (RC) to arrive at Theta Hill to complement recent work to delineate a maiden open-cut resource. The follow-up diamond drilling at Theta Hill has continued to deliver impressive results, with 1.0m @ 126g/t Au (from 33.1m) and 0.43m @ 9.15 g/t Au (from 34.9m) or 2m @ 70g/t Au, intersected on the Bevetts Reef in DDBH21. DDBH21 also yielded 2m @ 5.3g/t Au on the Lower Theta Reef horizon (from 49.1m), and an assay from the previous RC program yielded 1.0m @ 17.9g/t Au from 10m also in the Lower Theta Reef (RCBH66). The recent drilling and trenching at DG4 is encouraging, with broad shallow widths of low-grade gold mineralisation on the Bevetts Reef horizon encountered which indicate a surficial orebody of reasonable scale which can potentially provide early feed to the refurbished CIL plant once reserves are established and the plant upgraded. Managing Director, Rob Thomson commented “The resource evaluation work at Theta Hill, whilst being challenging due to difficult ground conditions, continues to deliver very positive grades and confirms the thesis of shallow, widespread gold mineralisation at this location. The recent focus on the DG’s, particularly DG4, should add to the ultimate ounces which form part of the mineral inventory we are currently targeting to underpin a resumption of gold production at the project as soon as possible” | |
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