Excelsior's WA tenement acquisitions add ounces
PERTH (miningweekly.com) – Junior gold developer Excelsior Gold on Friday reported that recently acquired tenements in Western Australia have helped to add ounces to its Kalgoorlie North gold project.
Earlier this week, Excelsior completed the acquisition of the Grafters, Vettersburg and Bardoc tenements, allowing the company to proceed with an expansion of the resource at the Bulletin South deposit, and with a conceptual openpit mine design study that would be included in the prefeasibility study, scheduled for completion in March next year.
A maiden resource has been declared at the Big Blow North, Leilani and Grafters deposits, adding about 49 200 oz to the Kalgoorlie North project, and taking the total measured, indicated and inferred gold resource to 22.21-million tonnes, grading 1.82 g/t gold for 1.29-million ounces.
Excelsior on Friday also reported that it had completed the acquisition of four more contiguous tenements to the west of the Kalgoorlie North project, totalling some 6.8 km2.
The acquisition of the tenements, collectively known as the Windanya tenements, consolidated additional prospective and strategic ground in the vicinity of the Bulletin South deposit, and the historical inferred resource at the Windanya-Better News prospect.
Excelsior told shareholders that the Windanya tenements offered further potential to expand the gold resource at Kalgoorlie North.
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