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WPG Resources Ltd.
Summary
| Project: | Tarcoola | |
|---|---|---|
| Deposit: | Tarcoola | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-9-2017: WPG Resources Ltd. announces a Resource Estimation report for its Tarcoola deposit at the Tarcoola project. Updated mineral resource estimate and ore reserves at Tarcoola. WPG Resources Ltd (ASX: WPG) is pleased to advise that it has completed | |
| Resources: | (Reserve, P+P): 567200kt @ 3.0g/t Au for 54300oz Au contained at project | |
| CP/QP: | [Resources]: Aaron Meakin (CSA Global Pty Ltd.) | |
| 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 Tarcoola prepared and reported in accordance with JORC (2012) guidelines This mineral resource estimate has been prepared using ordinary kriging techniques whereas the previous mineral resource estimate utilised a multiple indicated kriging methodology. This change in methodology has been the result of increased understanding of structural controls around gold mineralisation following commencement of mining operations and this increased knowledge base has informed both the mineral resource estimate and the revised reserve estimate. As of 30 June 2016 the remaining life of mine strip ratio in the reserve estimate is 2.7:1 and, following the completion of the pushback underway in the September 2017 quarter, this strip ratio will reduce to 1.8:1 and Tarcoola will become a significant supplier of low cost ore to the Challenger mill. The most recent Mineral Resource estimate was reported in 2012, in accordance with the 2004 JORC Code. The Mineral Resource reported herein is being reported for the first time in accordance with the 2012 JORC Code. The Tarcoola Mineral Resource estimate is based on information collected from numerous reverse circulation and diamond drilling campaigns that have been performed since 1979 to present. Since the last Mineral Resource estimate in 2012, Tarcoola Gold Pty Ltd has drilled an additional 683 RC Grade Control holes totalling 12,514 metres that have been included in the estimation. The resource model has been generated through the interpretation of the drilling and structural mapping data and is showing strong geological continuity and consistency of mineralisation sufficient to support the reported Mineral Resource classification levels. Recent Grade control drilling and mining exposures has improved the understanding of the structural and lithological controls on mineralisation and has enabled the generation of mineral domains. | |
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