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Terramin Australia Ltd.
Summary
| Project: | Bird-in-Hand | |
|---|---|---|
| Deposit: | Bird-in-Hand | |
| Location: | Australia | |
| Commodities: | Gold-Silver | |
| Date: | 8/8/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-8-2016: Terramin Australia Ltd. announces a Resource Estimation report for its Bird-in-Hand deposit at the Bird-in-Hand project. Updated mineral resource estimate, project now has Indicated resource category. Terramin Australia Limited (Terramin) (ASX:T | |
| Resources: | (Resource, I+I): 588000t @ 13.3g/t Au, 6g/t Ag for 252000oz Au contained at project | |
| CP/QP: | [Resources]: Eric Whittaker (Internal) | |
| ABSTRACT: | Terramin Australia Limited (Terramin) (ASX:TZN) is pleased to announce a revised Bird-in-Hand Gold Project Resource Estimate. As a result of the recently completed 2016 drill campaign, Terramin has achieved an 8% increase in contained gold ounces to 252,000 ounces of gold. The focus of the 2016 drilling campaign was to provide hydrological, geotechnical and metallurgical data about the Bird-in-Hand deposit. A number of drill holes have also allowed an upgrade of the Resource to the Indicated classification between the levels 200mRL and 325mRL. The grade of this portion of the orebody was increased by 15% to 16.16g/t. As this area is the shallowest part of the orebody and supports the early years of the operation, it should result in a significant improvement in early project cash flow. This result also indicates the potential for further resource upgrades as the infill drilling progresses. The Bird-in-Hand Gold Project lies within Exploration Licence 5469 and is located approximately 30 km north of Terramin’s existing mining and processing facilities at the Angas Zinc Mine. (Figure 1). The 2016 Resource Estimate of 588kt @ 13.3g/t gold for 252,000 ounces of gold is comparable both in grade and tonnage to the 2013 Resource Estimate of 557kt @ 13.0g/t gold for 233,000 ounces (see Table A). Both models were created in house by Terramin using VulcanTM into a 3-D block model utilising ordinary kriging estimation and reported at a 1g/t gold cut-off. The increase in grade is solely attributed to the new drillholes. Increase in tonnes is the result of minor changes to the geological model based on the new drilling data. | |
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