New Mineral Resource estimate underpins underground phase at Cannon Gold Mine, WA
> Total JORC Indicated and Inferred Resource of 142,000t @ 5.2g/t Au for 23,600oz Au using 1g/t cut-off grade and variable top cut by domain.
> The Indicated Resource stands at 122,000t @ 5.7g/t Au for 22,200oz Au, or 85% of resource tonnes and 94% of the resource ounces.
> Preliminary underground mine design work indicates possibility of development on 4 levels and the extraction of a significant proportion of the gold resource estimate with potential to extend with more drilling.
Updated JORC Resource
Australian gold producer, Southern Gold Ltd, is pleased to announce a new gold resource estimate, defined in accordance with the 2012 JORC code, at the Company’s Cannon gold mine, near Kalgoorlie, WA (Figure 1). The underground gold resource is contained on mining lease M25/333 and constrained to its northern boundary at 6590205mN where it abuts the Georges Reward deposit on M25/357 (a Westgold Resources project) and is summarised in Table 1 by category. Figure 2 illustrates the modelled shapes used in the detailed estimation.
To read the complete release please download the pdf below: