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WPG Resources Ltd.
Summary
| Project: | Challenger | |
|---|---|---|
| Deposit: | Challenger | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/23/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 23-6-2016: WPG Resources Ltd. announces a Resource Estimation report for its Challenger deposit at the Challenger project. Updated ore reserve estimate for Challenger gold mine. WPG Resources Ltd (ASX: WPG, WPGO) is pleased to advise that it has now compl | |
| Resources: | (Reserve, P+P): 557.8Mt @ 4.65g/t Au for 83.4Koz Au contained at Challenger project | |
| CP/QP: | [Resources]: Stuart Hampton (Independent) | |
| ABSTRACT: | WPG Resources Ltd (ASX: WPG, WPGO) is pleased to advise that it has now completed its ore reserve estimate for Challenger. WPG released its mineral resource estimate for the Challenger gold mine in South Australia on 19 May 2016. The total underground ore reserve estimate is 435,900 tonnes at an average grade of 5.59 g/t gold containing 78,300 ounces of gold. In addition there are ore reserves in the low grade surface stockpiles on the ROM pad. When this material is added to the underground ore reserves the total ore reserves at Challenger is 557,800 tonnes at an average grade of 4.65 g/t Au containing 83,400 ounces. The ore reserves and mineral resource estimates have been prepared and reported in accordance with JORC (2012) guidelines. The time datum for both estimates is 30 April 2016. The estimates have been completed by WPG since it took ownership of Challenger on 15 March 2016. The mineral resource estimate is inclusive of the ore reserves. Challenger ore reserves estimated herein have been derived from measured and indicated mineral resources. The ore reserve estimate does not include any inferred mineral resources. The resource estimate for the Challenger deposit is based on the interpretation of the geology and gold bearing lode structures that has been developed as a continually evolving model by hands-on experienced site geologists before and since the commencement of underground mining in 2002, and a combination of drilling results, face sampling and geological mapping of development headings. | |
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