The first JORC Resource estimate for the Big Nugget Hill Deposit in the Hargraves Project is 234,400 contained gold ounces.
Indicated Resources: 302,000 tonnes at 6.2 g/t gold for 60,300 contained ounces
Inferred Resources: 1,137,000 tonnes at 4.8 g/t gold for 174,100 contained ounces.
Total Contained Ounces: 234,400 ounces
• The Resource relates to an 800m length of the Big Nugget Hill Deposit to a depth of about 200m. The deposit remains open along trend and at depth beyond the limits of the currently delineated resource. Widely spaced deep drill holes indicate mineralisation continues to at least 400m depth.
• Substantial potential exists for increasing and upgrading the resources by further delineation drilling of the Big Nugget Hill structure and of the multiple geologically similar structures within the Hargraves Project area.
The Hargraves Project, located 30 kilometres south west of Mudgee in central New South Wales, Australia, covers a 10 x 4km historic goldfield which was the site of Australia’s first reef gold mining. The goldfield was discovered in 1851 with a 50kg piece of gold-in-quartz mined from the surface outcrop of the Big Nugget Hill Deposit. The associated alluvial field contained many large nuggets up to 2,700 ounces. Exploration Licence 6996, wholly owned by Hill End Gold Limited (HEG), covers multiple parallel gold-mineralised structures with historical gold production in addition to the Big Nugget Hill structure which has been the focus of HEG’s drilling.
Commenting on the initial JORC Resource, Hill End Gold’s Managing Director Philip Bruce said, “Over the last year we have completed an extensive drilling program to test the Big Nugget Hill Deposit generally to a depth of about 150m, and with a few holes to 400m depth. We are extremely satisfied with the results and with the size of the resource estimate for the portion of the overall deposit drilled so far. I am very confident that we will increase the resource substantially as we continue drilling on the Big Nugget Hill structure and other nearby targets. Importantly, the gold mineralisation is amenable to simple relatively low cost gravity treatment. We intend shortly to commence scoping studies into various development options. However our immediate priority is to increase the Resource by further drilling. The Hargraves Project is a most valuable asset for our Company. "