Quartz/telluride/copper/gold/silver mineralisation with NGG mining the oxidised gold cap. Mining in years 3 and 4 may progress to the underlying sulphide system. 21,000m of diamond core drilling and 13,000m of RC drilling completed. Drilling has given spectacular results such as 8m at 28g/t gold in oxide zone and 20m at 26g/t gold, 2.19% copper plus tellurium to 4,000g/t and silver to 500g/t in the sulphide zone. Exploration Target for sulphide mineralisation is 1.5 to 2Mt at 8 to 12g/t gold, 1.0% to 2.0% copper, 50g/t to 150g/t silver and 500 to 1,000g/t tellurium. Drilling and trenching continues in 2010.
As required we include the following continuing statement: “The Exploration Target is based on extensive surface outcrops, mine open pits, and approximately 20 drill-holes which intersect the mineralisation. The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if furthermining/exploration will result in the determination of a Mineral Resource”.
First gold pour July 2007.
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