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Syndicated Metals Ltd.
Summary
| Project: | Monument | |
|---|---|---|
| Deposit: | Korong | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-9-2018: Syndicated Metals Ltd. announces a Resource Estimation report for its Korong deposit at the Monument project. Initial mineral resource estimate for Monument project. Syndicated Metals (ASX: SMD) is pleased to report a maiden JORC 2012 Inferred | |
| Resources: | (Resource, Inf.): 855Kt @ 1.8g/t Au for 50Koz Au contained | |
| CP/QP: | [Resources]: Matthew Karl (Mining Plus Pty Ltd.) | |
| ABSTRACT: | Syndicated Metals (ASX: SMD) is pleased to report a maiden JORC 2012 Inferred Mineral Resource estimate for the Korong gold deposit, part of the Company’s 100%‐owned Monument Gold Project in the world‐class Laverton gold district of WA (refer Figure 1). The Korong gold Resource is the first JORC compliant mineral resource to be estimated at the Monument Project and highlights the potential for further economically viable gold resources to be identified along the mineralised corridor. Significant results have been reported at multiple locations for over 12km along this corridor. In addition, the mineralised system at Korong is believed to be the same system geologically to the one that hosts most of the mineralisation at the 1.6Moz Westralia Gold Deposit, part of Dacian Gold’s (ASX: DCN) Mount Morgans Gold Operations, located immediately along strike and to the south of the Monument Project (Figure 2). The maiden resource, comprising 855,000 tonnes grading 1.8g/t Au for 50,000 ounces of contained gold is classified as Inferred and has been constrained by a A$2,025 per ounce gold price conceptual optimised pit shell. The Inferred Mineral Resource is summarised in Table 1 below. The current in‐situ, drill defined and developed Mineral Resource Inventory has been reported inside an optimised pit‐shell at a cut‐off of 0.5g/t, and outside the optimised shell at a 2.0g/t cut‐off. • The modelled mineralised zones that form the basis of the resource show good continuity and are based on data from 22 diamond drill holes (5,008m), 50 percussion drill holes (1,788m) and 72 Reverse Circulation (RC) drill holes (5,126m). These holes include those drilled by previous operators as well as holes completed over the past two years by Syndicated Metals. • The mineralisation is interpreted as an easterly‐dipping and north‐plunging lode which has been delineated over a strike length of approximately 500m, a down‐plunge extent of 200m and an average thickness of 5m. Drilling has successfully defined this horizon and identified high‐grade shoots which are likely controlled by folding and faulting. • The Mineral Resource estimate has been defined by a nominal drill spacing of 25m x 25m and 25m x 50m. | |
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