Northern Manganese Ltd approaching updated gold JORC Resource
Date
9/28/2016 2:34:06 AM
(MENAFN- ProactiveInvestors - Australia)
Northern Manganese Ltd (ASX:NTM) is leveraged to multiple drilling programs within the 100% owned Redcliffe Gold Project located in the Eastern Goldfields region of Western Australia.
Drilling is to progress an updated estimation of resources to JORC 2012 compliance.
Reverse circulation drilling is now underway at the Kelly prospect where 17 holes will target a supergene gold zone.
The objective of this program is to infill and further define gold mineralisation.
Additionally, a diamond core rig has been mobilised to drill out extensions to previous holes and gold mineralisation at the Golden Terrace South prospect.
The Redcliffe Gold Project is located in a district that offers excellent mining infrastructure and hosts several multi-million ounce gold deposits including the 5.1 million ounce Sons of Gwalia deposit, the 3.1 million ounce gold Tarmoola deposit and the 1.5 million ounce Tower Hill deposit.
The Golden Terrace South is the most advanced prospect within the project with a current JORC 2004 resource estimate of 1.39 million tonnes grading 2.02 g/t gold for 90,000 ounces of gold.
The stock is trading up over 650% year to date, catapulted by drilling results in early June at Golden Terrace South.
Results included:
- 15 metres at 14.47 g/t gold from 85 metres;
- 91 metres at 3.88 g/t gold from 35 metres; and
- 65 metres at 4.46 g/t gold from 60 metres. <
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