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Stonewall Resources closes in on updated resource at Theta Hill

Drill results support Theta Hill's potential as a high-grade open‐cut gold mine.
RC drill rig
Two reverse circulation (RC) rigs continue to drill at the Theta Hill prospect

Stonewall Resources Ltd (ASX:SWJ) has received more positive results from its resource drilling at the Theta Hill open pit prospect within the TGME Project in South Africa.

Recent results including 16 metres at 7.36 g/t from 38 metres will feed into a JORC resource upgrade expected to be delivered next month.

The JORC resource upgrade will feed into Theta Hill’s scoping study also due in September 2018.

READ: Stonewall Resources closing in on mining its 5+ million ounce gold resources

Stonewall’s managing director Rob Thomson said: “The resource evaluation work at Theta Hill continues to provide evidence of a high-grade open‐cut opportunity.

“The drilling continues to deliver very positive grades and confirms the thesis of shallow, widespread gold mineralisation at this location, adjacent to the existing permitted CIL plant.

“We have been working behind the scenes reassessing the quantum and viability of all our mineral resources, including modelling preliminary opencut mining scenarios.

“This work has given the confidence to drilling to Indicated status at Theta North and DG4.  

“We intend to publish an updated Mineral Resource and Scoping Study in September 2018.”

Recent drilling at DG4 and Theta North

The recent drilling at DG4 has focused on Indicated resource infill drilling for the Lower Theta and Beta Reefs, as well as shallow depth evaluation of the mineralised trenches.

The two reverse circulation (RC) drilling rigs are now infill drilling back at the Theta North prospect to upgrade the resource to the Indicated category.

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