Beadell Resources drills big results at Duckhead

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THE DRILL SERGEANT: Beadell Resources (ASX: BDR) has announced high-grade infill RC drill results from the company’s Duckhead deposit in Brazil.

The results include intersections of:

–    41 metres at 54.9 grams per tonne gold from surface, including 5 metres at 430.1g/t gold from 15 metres, including 1 metre at 1,817.6g/t gold from 16 metres;

–     22m at 58.2g/t gold, including 11m at 113.4g/t gold from 8m, including 1m at 832.9g/t gold from 16m; and

–    24m at 35.9g/t gold from surface, including 5m at 169.7g/t gold from 16m, including 1m at 813.4g/t gold from 17m.

Beadell said it considers the new high-grade drill results have enhanced the Duckhead deposit by locating previously unidentified extremely high-grade (greater than 500g/t gold) gold mineralisation in the upper 20m of the deposit.

Infill grade control RC drilling of the Main Lode has been completed down to approximately 50m below surface, which the company said has confirmed and enhanced the continuity of the high-grade Main Lode by extending the zone of extreme gold grades up plunge.

Beadell is confident the Duckhead gold deposit remains open at depth below the shallow level of drilling between 100 and 150 metres below surface and is prospective for extensions and repetitions of the high-grade gold mineralisation.

The company is continuing to conduct diamond drilling target the depth extensions of the Main and Hangingwall Lodes, with additional results expected shortly.

 

Duckhead plan showing location of new grade control results and starter pit. Source: Company announcement

 

“Approvals and preparations for commencement of open pit mining at Duckhead are progressing very well with both Government regulators and Anglo Ferrous and, subject to these approvals, Beadell is targeting a June 2013 start up,” Beadell Resources said in its ASX announcement.

“The current mining schedule indicates that 90 per cent of the total material moved from the combined Duckhead starter pit, currently at 98,000 ounces gold with no allowance for these extreme infill grade results, can be mined over a five month period, with the remaining 10 per cent completed within the 6th month.

“This 400,000 tonnes of gold ore will be blended into the company’s planned 2.3 million tonnes of gold ore to be processed in the last 7 months (Jun – Dec) of 2013.

“The inclusion of Duckhead in the 2013 plan will ensure the company’s total cost of production will sit firmly within the lowest quartile globally.”