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WPG Resources Ltd.
Summary
| Project: | Challenger | |
|---|---|---|
| Deposit: | Challenger | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-9-2017: WPG Resources Ltd. announces a Resource Estimation report for its Challenger deposit at the Challenger project. Updated mineral resource and ore reserve at Challenger. WPG Resources Ltd (ASX: WPG) is pleased to advise that it has completed its | |
| Resources: | (Reserve, P+P): 537.2kt @ 5.60g/t Au for 96.7koz Au contained at project | |
| CP/QP: | [Resources]: Kurt Crameri (Internal) | |
| ABSTRACT: | WPG Resources Ltd (ASX: WPG) is pleased to advise that it has completed its 30 June 2017 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 2017 Mineral Resource estimate, which is shown in detail in Table 1, is a total of 1.6 million tonnes at an average grade of 7 g/t Au containing 364,000 ounces of gold. The Mineral Resource and Ore Reserve estimates in the tables above have been extracted from the detailed Mineral Resource and Ore Reserve Estimate Report that is attached to this abbreviated report. A summary of all material information used in the Mineral Resource and Ore Reserve estimates is set out below. 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 increase in the gold content of the Mineral Resource and Ore Reserve estimates continues the trend that has been in place since WPG acquired Challenger in March 2016. This trend is shown in the chart set out in Graph 1 below. WPG’s Chairman Bob Duffin said “The hockey stick or J-curve shown in Graph 1 continues to give us considerable encouragement that WPG’s intensive focus on underground exploration at Challenger has the potential to deliver further increases in the resource inventory, and also the life of the mine”. | |
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