Highlights:
- Initial results for the first ore parcel is approximately 6,640 tonnes delivered at 7.7g/t Au.
-The calculated gold grade of 7.7g/t Au is above expectation when compared to grade control estimates.
Australian gold producer Castlemaine Goldfields Limited (ASX Code:CGT) announces positive results from the processing of the first parcel of gold bearing ore from the high grade Mako Lode at its Ballarat gold mine.
Underground mine development has focused on accessing the identified high grade Mako Lode and this was intersected ahead of schedule in February 2012. Approximately 6,640 tonnes has been mined from the initial cross cut (refer Figure 4). This parcel of ore has now been processed and converted to gold bullion, producing 1,441 ounces of gold.
The calculated gold grade from this first parcel of ore returned a result of 7.7 g/t gold.
The gold grade from this first parcel of ore is in line with the expected long term average from the mine (between 7.5 and 8.5g/t). Encouragingly, the results achieved are above the JORC Inferred Resource1 block model which predicted that the area mined would yield 5,075 tonnes at an estimated grade of 4.1g/t; this reflected the first mining of the Flat Makes area of the Mako Lode.
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