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WPG Resources’ drilling reveals potential to grow Tarcoola open-pit gold mine

The company has received drill assays up to 67.68 g/t gold.
opening of tarcoola mine
Drilling is targeting the continuation of mineralisation along strike

WPG Resources Ltd (ASX:WPG) has received high-grade gold assays from the initial near pit exploration drilling conducted at its Tarcoola open-pit gold mine located in South Australia.

READ: WPG Resources advancing various funding options for Challenger mine

Drilling is targeting the continuation of mineralisation along strike in an effort to grow the mine’s life.

Importantly, WPG received assays up to 67.68 g/t gold which provides a significant opportunity for future targeting.

Bob Duffin, chairman, said “the results of this ML exploration drilling at Tarcoola, near-pit and close to existing infrastructure, provides further insight into the potential for discoveries which may extend the mine life.”

WPG’s shares are trading 10% higher intra-day, at $0.022.

High-grade gold intercepts from multiple prospects

The geological understanding of the prospects on the mining lease has been enhanced by the increasing pit exposure.

Best Intercepts include:

- Morning Star: 2 metres at 39.90 g/t gold from 73 metres;
- Genie Bar: 4 metres at 3.24 g/t gold from 57 metres;
- Wondergraph: 2 metres at 3.24 g/t gold from 7 metres;
- White Hope: 0.5 metres at 4.95 g/t gold from 54 metres; and
- Daly’s Dream: 3 metres at 1.28 g/t gold from 17 metres.

Future works planned

Only five of the planned ten holes were completed at White Hope - the remainder are planned in the next round of drilling.

In addition, a few holes will be drilled towards the west to intersect occurrences of vuggy quartz noted in recent pit mining.

At Eclipse, the extension of the Perseverance Shear to the south is intended to be drilled in the next round of drilling along with the conglomerate granite contact to the southwest of the pit.

The intent of the recent drilling and the next phase is to increase the current gold resource for the operation.

READ: WPG Resources receives drill results from Challenger Deeps program

The company recently received further encouraging gold assays from its phase II drilling program within the Challenger Deeps section of the Challenger Gold Mine in South Australia.

The Challenger gold mine is WPG’s flagship asset and the company is in the process of trying to extend the mine life through exploration and development of the Challenger Deeps area.

Ore from the Tarcoola open-pit gold mine is trucked 165 kilometres to the Challenger mill.

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WPG Resources Ltd Timeline

Newswire
November 28 2017

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