The results increase confidence in the open pit design and highlight strong potential for future growth and upside at the cornerstone deposit.
Excelsior forms part of the company’s 3.02-million-ounce flagship Bardoc Gold Project and new results in areas of lower confidence highlight potential growth opportunities for possible future mining assessment.
Best results include:
- 19 metres at 2 g/t gold from 160 metres;
- 24 metres at 1.44 g/t from 80 metres including 10 metres at 2.14 g/t from 87 metres; and
- 76 metres at 0.89 g/t from 173 metres including 11 metres at 1.20 g/t from 197 metres, 10 metres at 1.98 g/t from 215 metres and 6 metres at 1.93 g/t from 232 metres.
Mine planning work at the project is on track for the upcoming definitive feasibility study.
Bardoc chief executive officer Robert Ryan said: “These results have substantially increased our confidence in the open pit design at Excelsior while also demonstrating exciting future growth potential.
“The recently completed open pit optimisations at Excelsior included inferred material outside of the mining reserve.
“The recent drilling was designed to upgrade resource confidence levels in these areas as we look to grow our mining reserve. “
Excelsior s one of the three cornerstone deposits of the Bardoc Gold Project and currently has an open pit ore reserve of 3.54 million tonnes at 1.4g/t for 160,000 ounces of contained gold.
The current Excelsior reserve open pit design is 195 metres deep and the results demonstrate that the broad, continuous, lodes continue at depth down-plunge outside the current pit design.
Infill RC drilling is underway at the Excelsior and Aphrodite deposits and geotechnical core drilling at Aphrodite is scheduled to start next week.
Aircore drilling is ongoing at the Mayday North project area and the final planning for exploration aircore drilling at North Kanowna Star is underway.
Ryan said: “The resource infill program across the Excelsior, Aphrodite and Zoroastrian deposits is now coming to an end, with the remaining results due in the coming weeks.
“We are now transitioning to our exploration program, which will focus on potential new discoveries within the Bardoc Tectonic Zone and Mayday North.”