https://www.engineeringnews.co.za

Explaurum reports 'frustrating' maiden Mace resource

7th December 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Takeover target Explaurum has reported a maiden inferred mineral resource of 400 00 t, grading 1.4 g/t gold for 20 000 oz of contained gold at its Mace deposit, in Western Australia.

MD John Lawton told shareholders on Friday that at a headline level, the initial mineral resource estimate had returned ‘frustrating results’.

The Mace deposit extends from the southwestern margin of the proposed Tampia openpit operation, and is 40m to 80m wide, with an average thickness of 5m from around 8m below surface.

The initial mineral resource estimate was based on 310 reverse circulation drill holes on a 20m by 10m drill spacing, as well as 25 diamond drill holes, which covers 700m of the strike extent of the Mace deposit.

Lawton said that coarse gold distribution and challenged drill sample quality had limited the ability of the initial mineral resource to be classified at a higher level of resource confidence.

“However, the finer detail behind [the mineral resource estimate] presents a different story. The infill reverse circulation programme was undertaken on a close spaced drill pattern, with many high-grade intercepts being returned.

“However challenging sample quality, as a result of the gold mineralisation being coarse or nugget, and being hosted by unconsolidated clay, has had the effect of significantly negatively biasing the final grade estimate for the resource.”

Lawton said that subject to shareholders approving a strategic investment by fellow-listed Alkane Resources, Explaurum would aggressively accelerate extensional drilling at Mace in early 2019.

Explaurum this week urged shareholders to reject a takeover offer from gold miner Ramelius Resources, in favour of an A$8-million investment from Alkane, which would give that company a 12.2% strategic stake in Explaurum.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.046 0.726s - 140pq - 2rq
Subscribe Now