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Strategic Minerals Corporation NL
Summary
| Project: | Woolgar | |
|---|---|---|
| Deposit: | Woolgar | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-10-2017: Strategic Minerals Corporation NL announces a Resource Estimation report for its Woolgar deposit at the Woolgar project. Resource updates for historic resources at four deposits within the Woolgar Project. The Company is pleased to announce re | |
| Resources: | ||
| CP/QP: | [Resources]: Danny Kentwell (SRK Consulting (Australasia) Pty Ltd.) | |
| ABSTRACT: | The Company is pleased to announce resource updates for the historic resources at the Lost World, Explorer, Camp and Grand Central and Soapspar gold deposits in its wholly-owned Woolgar Project in North Queensland. This has been prepared by SRK Consulting (Australasia) Pty Ltd, (SRK), an independent consultancy, on behalf of Strategic. The resource estimates have been reported according to the 2012 JORC Code & Guidelines. These resource estimates are unrelated to the resource estimates at Big Vein South (BVS)1 , located between 10 and 15 km from these deposits. Strategic commissioned the update of these estimates in light of the recent discovery and continued successes at the BVS deposit in the Lower Camp at Woolgar. The exploration success of BVS and its favourable developmental setting have shifted the focus away from the historic Sandy Creek epithermal interests at Woolgar. Consequently, the majority of Strategic’s resources and efforts have been directed at BVS and the other the prospects contained within Lower Camp. The Company has previously announced its intention to update the historic resource estimate inventory relative to contemporary market conditions and in line with the current JORC 2012-compliant resources at BVS, both as the basis for of evaluating the potential incorporation of these resources into a BVS development strategy and to update shareholders on the status of these resources under current economic constraints. These resource estimates pertain to three epithermal, low-sulphidation vein-hosted gold deposits in the Sandy Creek sector in the east of the Woolgar Project, approximately 10 to 13 kilometres east-northeast of the main BVS resource, and the Soapspar intrusive-related deposit, 15 kilometres northeast of BVS. The BVS resource is a mesothermal gold deposit both spatially and genetically unrelated to the resources reported here | |
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