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ASX Release – 14 August 2020
Two Mile Hill open pit Mineral Resource up 13%;
drives Sandstone total to 657,500oz
• A 13% increase in the Two Mile Hill open pit Mineral Resource, to 1.25Mt
at 1.36g/t Au for 55,000oz, within the Company’s Sandstone gold project
in central WA.
• Increases Sandstone’s current total project Mineral Resources to
657,500oz gold which, importantly, does not include the five new
satellite gold discoveries where resource definition drilling is being
finalised.
• The proportion of the Two Mile Hill open pit deposit classified as an
Indicated Mineral Resource also increased to 95%.
• Two Mile Hill is one of 10 Sandstone gold deposits the subject of Middle
Island’s ongoing +40,000m drilling campaign and feasibility study in 2020.
• The new Two Mile Hill resource upgrade closely follows a 52% increase
in the Shillington Mineral Resource announced last week.
• Two large-diameter oxide diamond core holes, to be drilled for
confirmatory bulk density and geotechnical purposes, are all that remain
to be completed at Two Mile Hill.
• The Two Mile Hill deposit will now be re-optimised to determine Ore
Reserves likely to contribute to the feasibility study.
• Resource estimates for the five new 2020 satellite open pit deposits,
along with extensions to the Goat Farm and Twin Shafts deposits, will be
progressively provided as final results from the Phase 2 drilling campaign
are received and compiled. |
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