Tanami extends Groundrush

THE DRILL SERGEANT: Australian gold producer Tanami Gold has continued its run of exploration success at the company’s 100 per cent-owned Central Tanami project in the Northern Territory.

Recent highlights from ongoing infill and extension drilling at the Groundrush deposit has returned results including:

17.3 metres at 4.7 grams per tonne gold;

12.5 metres at 5.8g/t gold;

10.8 metres at 6.3g/t gold;

9.2 metres at 5.2g/t gold; and

7.7 metres at 8.5g/t gold;

“The continued exploration and drilling success at the Central Tanami project is very pleasing as it provides a high level of confidence in the project leading into the dry season which will see increasing drilling activity,” Tanami Gold deputy chairman Denis Waddell said in the company’s announcement to the Australian Securities Exchange.

“We are particularly encouraged that positive results are being returned at both the Groundrush deposit and regionally, as highlighted in the ripcord Prospect results reported on 16 March 2012.”

Tanami has continued with drilling at the Groundrush deposit since drilling its initial hole was drilled in April 2011.

 

Groundrush schematic longsection. Source: Company announcement

 

To date, over 80 diamond drill holes have been drilled enabling the company to define a Resource of 535,000 ounces, which remains open in all directions.

Tanami’s technical team has recently carried out a complete re-log of the core drilled to date to enable detailed geological, alteration and mineralisation models to be developed.

This has been done in order to assist the company with ongoing exploration targeting as well as increasing its confidence in the current Resources.

Drilling is set to ramp up in coming months with additional rigs secured.

The current and planned drill programs include infill drilling and testing for depth and strike extensions to the current Resource.