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WPG Resources Ltd.
Summary
| Project: | Challenger | |
|---|---|---|
| Deposit: | SEZ, M3 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 22-5-2017: WPG Resources Ltd. announces a Resource Estimation report for its SEZ, M3 deposit at the Challenger project. Exploration target for M3 and SEZ lodes. WPG Resources Ltd (ASX:WPG) is pleased to announce a combined exploration target for the M3 an | |
| Resources: | Exploration Target: 1.09-1.27Mt @ 3.4-3.93g/t Au for M3 and SEZ lodes | |
| CP/QP: | [Overall Report]: Kurt Crameri (Internal) | |
| ABSTRACT: | WPG Resources Ltd (ASX:WPG) is pleased to announce a combined exploration target for the M3 and SEZ shoots, above the 215 shear, at the Challenger Gold Mine. The combined exploration target for the M3 and SEZ lodes range from a lower limit of 1.09Mt@ 3.40g/t for 120koz to an upper limit of 1.27Mt @ 3.93g/t for 162koz. The potential tonnage and grade of the new combined M3 and SEZ Exploration Target is conceptual in nature as there has been insufficient exploration to estimate a Mineral Resource, and it remains uncertain if further exploration will result in the estimation of a Mineral Resource. Underground diamond drilling completed at Challenger on the M3 and SEZ shoots in the December 2016 and March 2017 quarters returned encouraging drill results, particularly at the 1025 level, which led to an assessment of the exploration potential of the M3 and SEZ shoots. As a result of these highly encouraging drill results an exploration and production drive has now been developed on the M3 structure on the 1055 level with stoping operations expected to commence within the next week. This 1055 level is situated within 150 metres of surface. Sludge drilling results indicate this first stope could be high grade. We anticipate development on the 1055 level SEZ structure will commence in the near future. Further underground exploration diamond drilling into the M3 and SEZ shoots will commence in May 2017, with a significant drill program of approximately 28,000 metres planned to be drilled over the next 12 months. | |
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