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WPG Resources Ltd.
Summary
| Project: | Challenger | |
|---|---|---|
| Deposit: | Challenger | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/25/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 25-10-2016: WPG Resources Ltd. announces a Resource Estimation report for its Challenger deposit at the Challenger project. Updated ore reserve estimate for Challenger deposit. WPG Resources Ltd (ASX: WPG, WPGO) is pleased to advise that it has completed | |
| Resources: | (Reserve, P+P): 558Mt @ 4.98g/t Au for 89Koz Au contained at Challenger project | |
| CP/QP: | [Resources]: Stuart Hampton, Gary Jones (Independent) | |
| ABSTRACT: | WPG Resources Ltd (ASX: WPG, WPGO) is pleased to advise that it has completed its 30 June 2016 Mineral Resource and Ore Reserve estimates for Challenger prepared and reported in accordance with JORC (2012) guidelines. The Mineral Resource and Ore Reserve estimates set out below are followed by a summary of material information. Detailed technical information with reference to JORC (2012) compliance for the Mineral Resource and Ore Reserve estimates is provided in JORC Table 1 Sections 1 to 4 in Appendix 1. The 30 June 2016 Mineral Resource estimate, which is shown in detail in Table 1, is a total of 838,000 tonnes at an average grade of 9.76 g/t Au containing 263,000 ounces of gold. 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 mining in 2002. The current interpretation is based on a combination of drilling results, face sampling and geological mapping of development headings. The Challenger deposit Resource extends from 1193mRL (surface) to -325mRL as a series of gold bearing folded migmatite zones with ore shoots that plunge at ~30 degrees on a bearing of 029. The ore shoots within the broader structure are defined by leucosome veins which are characteristically complexly folded. Due to the complex nature of the lode zones the Resource has been estimated using a combination of geological grade calculations, generic modelling and block modelling. There is a high nugget effect in the Challenger deposit and significant visible gold and therefore various top cuts are applied to the grade calculations as detailed in the body of the attached Resource and Reserve Report. | |
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