Drilling targeted up‐dip and down‐dip positions of the high-grade lode style gold mineralisation that was intersected last year.
Positively, drilling intersected the modelled mineralised positions, with all holes intersecting gold mineralised lode at the predicted position.
Highlights included 7.8 metres at 3.4 g/t gold from 13.2 metres and 3.5 metres at 2.7 g/t gold from 60.5 metres in one hole and 7.1 metres at 4.7 g/t gold from 45.3 metres in another.
Resource upgrade and underground potential
The Helens deposit measures 1.03 million tonnes at 2.14 g/t gold for 70,900 ounces and forms part of the proposed first open pit development at Cardinia.
Notably, the results highlight the potential for underground mining assessment to be conducted during the initial phases of the project’s development.
An updated JORC resource estimate and metallurgical test work for the Helens deposit are nearing completion.
The project’s final pit design works have commenced, which will form part of the feasibility study underway.
The updated feasibility study is due mid-year and is to be followed by a decision-to-mine in late 2019.