Castlemaine Goldfields Ltd (CGT) announces its inaugural resource estimation from drilling results on the Mako Fault Zone in the Britannia compartment at the Ballarat Gold Project.
Summary:-
- Total Inferred Mineral Resource1 for the Britannia compartment of:-
100,000 tonnes at 8.0 g/t Au for 25,700 ounces of gold
- Gold grade ranging from 4.0 to 9.0 g/t Au
- Exploration Target2 of 60,000 to 120,000 tonnes at between 3 and 7 g/t Au identified in adjacent areas of the Britannia compartment
- Southern extensions within the Britannia compartment possible with assays awaited for a visible gold in quartz intersection 30m south of the Mako Deep lode
- Recent exploration result of 6.75m @ 10.3 g/t Au from infill drilling
- A revised total Exploration Target2 for the Ballarat Gold Project of:-
390,000 to 770,000 tonnes at between 4 and 8 g/t Au for a potential 50,000 to 195,000 ounces of gold.
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