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Stonewall Resources Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | Theta Hill | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 8/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-8-2018: Stonewall Resources Ltd. announces an Exploration/Drilling Update report for its Theta Hill deposit at the TGME project. Drilling results incl. 16m @ 7.36g/t Au from 38m. Stonewall Resources (ASX: SWJ, SWJO) is pleased to provide an update of a | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Phil Bentley (Internal) | |
| ABSTRACT: | Stonewall Resources (ASX: SWJ, SWJO) is pleased to provide an update of activities at the TGME gold project in South Africa. Further positive results from the resource delineation drilling at Theta Hill are being incorporated into the Resource Model, with the aim of finalising a Scoping Study by the end of September 2018. At DG4 (Figure 1) RC infill drilling has yielded some exceptional Lower Theta intersections including: • 16m @ 7.36 g/t Au from 38m in DG4LT19 (including up to 26g/t Au over 1m, refer to Table 1) RC Drilling at Theta North has yielded the following intersections in the Lower Theta seam: • 1.0m @ 7.92 g/t Au from 27m (RCBH88); 1.0m @ 5.44 g/t Au from 16m (RCBH83); 1.0m @ 5.83g/t Au from 44m (RCBH77); 1.0m @ 5.25g/t Au from 57m (RCBH73); 1.0m @ 5.56 g/t Au from 28m (RCBH90); and 1.0m @ 4.23g/t Au from 37m (RCBH33). The recent drilling at DG4 has focused on Indicated Resource infill drilling for the Lower Theta and Beta Reefs, as well as shallow depth evaluation of the mineralised Bevetts seam trenches excavated during Q1 and Q2 2018. The two RC drilling rigs are now operating back at the Theta North prospect, where a number of peripheral Lower Theta and Beta Reef target blocks are being infill drilled to an Indicated Resource classification. Managing Director, Rob Thomson comments “The resource evaluation work at Theta Hill continues to provide evidence of a high grade open‐cut opportunity. The drilling continues to deliver very positive grades and confirms the thesis of shallow, widespread gold mineralisation at this location, adjacent to the existing permitted CIL plant. We have been working behind the scenes reassessing the quantum and viability of all our mineral resources, including modelling preliminary opencut mining scenarios. This work has given the confidence to drilling to Indicated status at Theta North and DG4. We intend to publish an updated Mineral Resource and Scoping Study in September 2018.” | |
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