viewTheta Gold Mines Ltd

Stonewall Resources now has three rigs at Theta Hill to delineate gold resources

The TGME project is near the towns of Pilgrim’s Rest and Sabie in the Mpumalanga Province.

View showing the distribution of the trenches at DG4 (Bevetts Seam)

Stonewall Resources Ltd (ASX:SWJ) is set to boost gold ounces at Theta Hill as resource drilling continues to provide encouraging results.

New assays on the Lower Theta Reef include: 0.9 metres at 9.3 g/t gold from 18.6 metres; 2 metres at 4.9 g/t gold from 32 metres; 1 metre at 5.3g/t gold from 6 metres and 4 metres at 3.3 g/t gold from 26 metres.

Currently two diamond rigs are drilling, and a reverse circulation rig has now been deployed.

The additional rig will accelerate the drilling program which is aiming to delineate indicated resources and ultimately reserves to underpin funding of CIL plant refurbishment.

Theta Hill is part of Stonewall's TGME Gold Project in South Africa which currently hosts a 5.15 million ounce gold resource.

Rob Thomson, managing director, commented:

"The reintroduction of the reverse circulation rig with certain modifications is assisting penetration to Lower Theta target depths in the difficult ground conditions.

"The drilling continues to deliver positive grades and confirms the thesis of shallow, widespread gold mineralisation at this location, right next to the processing plant.

"The recent focus on the DG’s, particularly DG4, should add to the ultimate ounces which form part of the mineral inventory we are currently targeting to underpin a resumption of gold production at the project as soon as possible."

Trenching at DG4

The DG4 area of the Theta Hill project is situated within 700 metres of the existing and fully permitted TGME processing plant and tailings dam, and trenching in the area is targeting the previously unrecognised Bevett’s mineralisation.

Bevett’s mineralisation is variably exposed at surface over a large area.

Quick facts: Theta Gold Mines Ltd

Price: 0.16 AUD

Market: ASX
Market Cap: $69.87 m

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