The inferred MRE of 1.25 million tonnes at 1.9g/t gold for the Success deposit builds on the MRE of 718,000 tonnes at1.9g/t gold for 44,000oz for the company’s Challenger deposit, announced in August this year
Australian gold mining company Yandal Resources has announced an initial mineral resource estimate (MRE) of 75,000 ounces at its Success deposit.
The Success deposit is located within the company’s 100% owned Mt McClure gold project in Yandal Greenstone Belt of Western Australia.
According to the company, Success’ inferred MRE of 1.25million tonnes at 1.9g/t gold builds on MRE of 718,000 tonnes at1.9g/t gold for 44,000oz for Challenger deposit, announced in August this year.
The MRE includes mineralisation beneath the historic shallow open pit at Success deposit, which was mined to a depth of nearly 80m.
It was compiled by the BM Geological Services, as per the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC) guidelines.
The gold mineralisation, which is defined to a maximum vertical depth of around 210m, is constrained by a lack of drilling and remains open, said the company.
Yandal Resources managing director Tim Kennedy said: “We are extremely pleased with the initial mineral resource estimate of 75,000 ounces at Success.
“It builds on the 44,000ounce MRE reported for Challenger in August and confirms what a fantastic asset Mt McClure is to the Company.
“To have these ounces contained within granted mining leases, close to haulage infrastructure, and with Northern Star’s Orelia development within 10km of our tenement boundary, highlights the strategic value of the project.”
The Mt McClure project is located around 20km southwest of the historic Bronzewing mine and is close to existing haul roads and Northern Star’s Orelia Development.
Covering around 36km2 of area, the project hosts three historic mining areas, including Challenger, Success and Parmelia.
All three deposits are said to have substantial mineralisation beneath the base of mining, according to historic and recent drilling, said Yandal Resources.
Kennedy added: As with Challenger, the MRE at Success is constrained by drilling and remains open at depth. Broad spaced deeper drilling by Yandal over the past few years indicates that mineralisation continues at least a further 150m down-dip to a vertical depth of approximately 290m.
There is clear potential to extend the Success Resource with further targeted drilling beneath the base of the MRE, an opportunity that we intend to pursue as a matter of priority.
The Success MRE is the second of three MREs currently under evaluation by Yandal. The Parmelia MRE is progressing well and we look forward to reporting the outcome as results become available.