Saracen confirms mineralised zone at Whirling Dervish
THE DRILL SERGEANT: Saracen Mineral Holdings has been encouraged by the receipt of gold assay results from an ongoing drilling program being conducted at the company’s Whirling Dervish mine.
Saracen said the latest higher-grade gold intercepts it has achieved confirm the likely continuation of the main “footwall” ore body for at least 400 metres to the north of the present open pit mine.
Whirling Dervish Cross section. Source: Company announcement
Results include:
– 3 metres at 20.14 grams per tonne gold/t and 12 metres at 4.77 grams per tonne gold, including 5 metres at 7.59 grams per tonne gold;
– 8m at 5.51g/t gold;
– 3m at 8.36g/t gold; and
– 3m at 6.44g/t gold.
The results follow previously announced results of:
– 10m at 5.52g/t gold;
– 16m at 4.39g/t gold; and
– 15m at 5.41g/t.
The recent diamond drilling carried out by Saracen has targeted strike extensions of the main footwall ore body.
This program has extended the known strike of the mineralised zone by 400m, which the company claims is now confirmed to remain open to the north and at depth.
The main footwall ore body has to date provided the higher grade feed to the existing Carosue Dam processing plant.
It continues below the present pit floor and Saracen is utilising the remaining ore reserve (after the first phase of open-pit mining) by incorporating it into the present underground mining study.
“The Whirling Dervish mineralised system is much more extensive than previously thought,” Saracen Mineral Holdings executive chairman Guido Staltari said in the company’s announcement to the Australian Securities Exchange.
“With our underground mining study in train, and two rigs in operation here, we are aiming for a material lift in resources and gold production from this area.
“Confirmation of the continuation of the footwall ore body for another 400 metres along strike is a very positive finding and lends further weight to our exploration target concept.”
Saracen has completed nine holes to target depth with results received for eight of these, all of which intersected significant mineralisation.
