- 543,000 oz gold pre-JORC resource from surface to +300m RL
- 239,000 oz upgraded to JORC compliant resource from surface to 120
metres RL
- Potential low cost open pit mining
- Resource contained in a well defined microdiorite intrusion
- Intrusion is uniformly mineralised from surface to >300 metres (eg.
drill intercept of 313m at 1.42 g/t gold)
The Mt Adrah project, which contains the Hobbs
Deposit, represents a potential early mining opportunity for Tasman. The
Directors believe that a simple quarrying operation together with the
appropriate bio-leaching process may deliver acceptable gold recoveries.
Recent advances in bio-leach technology and the sustained strength in
the gold price further enhance the Mt Adrah project as a key resource in
Tasman’s portfolio.
The Mt Adrah project also lies on the important
Gilmore Suture and the Hobbs Deposit outcrops at surface as a
mineralised and altered microdiorite intrusion. It has been drilled to a
depth of 380m and interpretation of drill data by earlier owners
suggests that mineralisation may be open to the northeast and southwest.
Significant drill intersections include best intercept
of 313m @ 1.42g/t gold from surface. The deposit is reported to contain
a resource of 13 million tonnes at 1.3 g/t gold (pre-JORC estimate) for
approximately 543,000 oz gold.
At Mt Adrah, gold mineralisation is hosted in a
northwest trending belt of carbonate rich metasediments and
metavolcanics in which magnetite skarn and vein styles of mineralisation
have been identified. Further exploration for intrusive-related gold and
copper mineralisation along and adjacent to this belt will be conducted
by Tasman.
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