Adelaide Resources releases maiden Barns gold Resource

THE DRILL SERGEANT: Adelaide Resources (ASX: ADN) has released a maiden Mineral Resource estimate for the company’s 100 per cent-owned Barns deposit located on the Eyre Peninsula in South Australia.

The JORC Code 2012-compliant Barns Mineral Resource estimate has come in at 2.11 million tonnes at 1.6 grams per tonne gold for 107,000 ounces at a 0.5g/t cut-off grade.

The Resource is classified into 380,000 tonnes sitting in the Indicated category with 1.73 million tonnes of Inferred Resources.

“The company now plans to complete metallurgical test work to establish gold recoveries, evaluate development options, and conduct exploration to increase the resource inventory,” Adelaide Resources said in its ASX announcement

“The Barns deposit is open to the south and down dip, and excellent potential to increase the resource exists.

“Five nearby gold prospects also show strong potential to deliver additional resources.”