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ACR's Gadzema project has topped one million ounces of gold
04 Aug 2011 at 08:27hrs | Views
The resource at African Consolidated Resources (ACR)'s Gadzema project has topped one million ounces.
ACR reported that recent drilling has added 119,000 ounces of gold to the resource at its Gadzema project in Zimbabwe, breaking through the one million ounce level.
The total Gadzema resource now stands at 27 million tonnes (Mt) grading 1.2 grammes per tonne (g/t) containing a total 1.03 million ounces (Moz).
This estimate includes an indicated resource of 276,000 ounces with the remainder in the inferred category.
"Reaching the 1 million ounce milestone at our Gadzema gold project is a significant step in our ongoing exploration of the belt where we now have significant intercepts on several zones," said technical director of AFCR Michael Kellow.
The five month drilling programme, which concluded in May, has identified 600 metre wide mineralisations showing strong potential for large scale open pit mining. ACR commenced an intensive drilling programme at Gadzema in January 2011, using two Reverse Circulation rigs on double shifts, and a diamond coring drill rig. The programme, which covered approximately 13,000m, was completed in mid-May 2011.
Some of the best intersections included 34 metres grading 3.1 g/t gold and 2 metres at 21.3 g/t gold.
ACR added that the drilling programme has identified mineralisations of 600 metres wide demonstrating strong potential for large scale open pit mining.
Following a successful fundraising last month for further exploration drilling, between 10,000 to 30,000m of drilling will be committed in the second half of 2011. This will explore strike extensions of known mineralisation and additional diamond core drilling will provide information on alteration, structure, mineralogy and rock mechanics as ACR advance their strategy of defining a total resource of 2 million ounces of gold at ACR's Gadzema Gold Project by the final quarter of 2012.
The current study includes sample and assay data for the final 63 RC drill holes and one diamond core hole drilled by ACR, totaling 8,000m.
The drilling was carried out to test a sub-outcropping felsic intrusion where north trending thrusting has created large quartz-sulphide stockwork vein systems in the felsic porphyry, and in adjacent banded iron formations and talc schists. The two areas drilled were on east-west oriented drill traverses spaced at 80m northings and approximately 40m on section. All drill holes are angled steeply towards grid west, normal to the general strike of the gold mineralisation.
Drilling tested the mineralisation, which dips steeply to the east, to depths of approximately 100-120m vertically below surface.
ACR reported that recent drilling has added 119,000 ounces of gold to the resource at its Gadzema project in Zimbabwe, breaking through the one million ounce level.
The total Gadzema resource now stands at 27 million tonnes (Mt) grading 1.2 grammes per tonne (g/t) containing a total 1.03 million ounces (Moz).
This estimate includes an indicated resource of 276,000 ounces with the remainder in the inferred category.
"Reaching the 1 million ounce milestone at our Gadzema gold project is a significant step in our ongoing exploration of the belt where we now have significant intercepts on several zones," said technical director of AFCR Michael Kellow.
The five month drilling programme, which concluded in May, has identified 600 metre wide mineralisations showing strong potential for large scale open pit mining. ACR commenced an intensive drilling programme at Gadzema in January 2011, using two Reverse Circulation rigs on double shifts, and a diamond coring drill rig. The programme, which covered approximately 13,000m, was completed in mid-May 2011.
Some of the best intersections included 34 metres grading 3.1 g/t gold and 2 metres at 21.3 g/t gold.
ACR added that the drilling programme has identified mineralisations of 600 metres wide demonstrating strong potential for large scale open pit mining.
Following a successful fundraising last month for further exploration drilling, between 10,000 to 30,000m of drilling will be committed in the second half of 2011. This will explore strike extensions of known mineralisation and additional diamond core drilling will provide information on alteration, structure, mineralogy and rock mechanics as ACR advance their strategy of defining a total resource of 2 million ounces of gold at ACR's Gadzema Gold Project by the final quarter of 2012.
The current study includes sample and assay data for the final 63 RC drill holes and one diamond core hole drilled by ACR, totaling 8,000m.
The drilling was carried out to test a sub-outcropping felsic intrusion where north trending thrusting has created large quartz-sulphide stockwork vein systems in the felsic porphyry, and in adjacent banded iron formations and talc schists. The two areas drilled were on east-west oriented drill traverses spaced at 80m northings and approximately 40m on section. All drill holes are angled steeply towards grid west, normal to the general strike of the gold mineralisation.
Drilling tested the mineralisation, which dips steeply to the east, to depths of approximately 100-120m vertically below surface.
Source - Byo24News
