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Stonewall Resources Ltd.
Summary
| Project: | TGME | |
|---|---|---|
| Deposit: | Theta Hill, Columbia Hill | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 11/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-11-2018: Stonewall Resources Ltd. announces an Exploration/Drilling Update report for its Theta Hill, Columbia Hill deposit at the TGME project. Drilling results incl. 3m @ 19.4g/t Au from 2m. Chairman, Bill Guy comments “The team is pushing hard befor | |
| Resources: | (Resource, I+I): 4.482Mt @ 4.14g/t Au at Theta Hill | |
| CP/QP: | [Overall Report]: Phil Bentley (Internal) | |
| ABSTRACT: | Chairman, Bill Guy comments “The team is pushing hard before year’s end, as work concentrates on producing Indicated resources for conversion to reserves (expected late first quarter 2019). Columbia Hill drilling is just to the west of the TGME Plant and has produced good gold hits and intercept widths from this program and previous drilling, confirming it has potential to add ounces into the mine schedule. At Theta Hill, drilling has also delineated thick high grade zones of near surface gold mineralisation. This shallow material has potential to be the first mill feed. It is clear that the shallow oxide gold potential of the Goldfield has been demonstrated through sustained drilling. The assay results and geological data are a continuous feed into the resource models. In each gold cycle in Western Australia, the historical underground mines are tested and mined for shallow open cut oxide gold. This cycle of exploration and development simply has not occurred in this part of South Africa yet”. The Company has drilled over 2,500m since the last resource update (26 September 2018 ASX: Theta Hill Open Cut Grows JORC Resources to 5.8 Moz). The team in country continues to use two reserve circulation (RC) drill rigs, scheduled to work up to Christmas 2018. The team has deployed one RC drilling rig at Theta Hill and the other on Columbia Hill (Figure 1). The drilling has been positive for both areas. Additional assays have been received from this delineation RC drilling being undertaken at Theta Hill (Figures 2 and 3), Columbia Mine (Figure 5) and Day Mine. Drilling continues to give positive results. More samples are at the laboratory and assay results keenly awaited. The Company has drilled over 2,500m since the last resource update (26 September 2018 ASX: Theta Hill Open Cut Grows JORC Resources to 5.8 Moz). The team in country continues to use two reserve circulation (RC) drill rigs, scheduled to work up to Christmas 2018. The team has deployed one RC drilling rig at Theta Hill and the other on Columbia Hill (Figure 1). The drilling has been positive for both areas. Additional assays have been received from this delineation RC drilling being undertaken at Theta Hill (Figures 2 and 3), Columbia Mine (Figure 5) and Day Mine. Drilling continues to give positive results. More samples are at the laboratory and assay results keenly awaited. | |
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