Saracen Managing Director, Raleigh Finlayson today said the A$42m exploration budget had already made substantial inroads towards achieving the goal of growing group production and mine life.
“ We see outstanding potential to grow our gold inventory in the coming quarters, laying the foundations for future production growth above the 300,000oz pa production rate we anticipate by the June quarter,” he said.
Drilling continues at Thunderbox with two surface diamond rigs; the program is progressing well, to-date a total of 11,100m have been drilled with full results for 11 out of 14 completed holes.The results confirm that the Thunderbox mineralisation is consistent and persistent.
Significant results from the drilling include:
- TBDD0101 – 52m @ 3.0 g/t (incl uding 19m @ 4.8g/t)
- TBDD0109w1 – 47m @ 2.3 g/t (incl uding 19m @ 3.2g/t)
- TBDD0109 – 28m @ 2.4 g/t (incl uding 14m @ 3.3g/t)
- TBDD0107 – 25m @ 3.0 g/t (incl uding 10m @ 5.8g/t
- TBDD107w1 – 25m @ 2.4 g/t (incl uding 11m @ 4.0g/t)
- TBDD114w1 – 23m @ 2.4 g/t (incl uding 11m @ 3.1g/t)
- TBDD125 – 14m @ 4.1 g/t.
The new results are adding to the confidence and scale of the upside opportunity that is present at the Thunderbox operation, which is focused on the thicker, higher grade shoots.
Drilling at King of the Hills has been focused on grade control activities in the active mining areas, and near-mine extensions to the high-grade Lower Kingdom lode.