Further Encouraging Results From Kurnalpi Drilling
Highlights
- Assays on more holes on southern end of Brilliant deposit completed
- Results continue to live up to expectations confirming good grades and widths from near surface
- Best results include: 14m @ 4.85g/t and 32m @2.87g/t Au
- Targeting initial Reserves by December 2011, and first production by late 2012
- Additional work programs approved ensuring the 60,000m drilling program for LKK on track for December completion
Carrick Gold Limited (ASX:CRK) is pleased to release further results from drilling at the Company's Brilliiant deposit at Kurnalpi, which is one of three project areas making up the flagship LKK Project.
Kurnalpi comprises six deposits: Brilliant, Sparkle, Tinsel, Dazzle Discovery Hill and Half Way Hill. Brilliant is the largest of these, and will be the focus of the first round of drilling, comprising around 12,000m. This drilling builds on the total of 157,000m of drilling that has been conducted at Kurnalpi reviously, over the 2.5Km mineralised strike.
Drilling commenced on the southern end of known mineralisation in June and will systematically progress northward. Results are tabulated in Table 1, but highlights include:
14m @4.85g/t (incl 1m @30.5g/t, 1m @7.1g/t, and 1m @5.5g/t)
34m @ 2.87g/t (incl multiple intercepts at >5g/t)
The company has now received approval for additional drilling at the Sparkle and Dazzle deposits at Kurnalpi. This will follow on from the current drilling at the Brilliant deposit, after which the drill rig will move to Lindsay's.
CEO John McKinstry commented "These results speak for themselves and continue to meet our expectations. We will have a steady flow of results from the drilling, which will build the confidence level of the Resources for the upcoming Reserve estimates."
Validation work for the revised Mineral Resource estimate for the Brilliant Deposit (Kurnalpi) is well advanced. The current drilling program is designed to take the Resource from being predominantly in the Inferred category to the Indicated category. The addition of mine design and optimisation criteria will then allow an estimate of a Probable Reserve for each deposit. A Probable Reserve is the tonnage and grade that can be mined from the deposit.
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