Excelsior Gold Making Headway at Kalgoorlie North Gold Project

THE DRILL SERGEANT: Excelsior Gold is currently drilling a multi-faceted program aimed at the conversion of Resources to Reserves and exploring for new discoveries over the company’s 100 per cent-owned Kalgoorlie North gold project (KNGP).

Excelsior Gold has completed an infill drilling program at Zoroastrian and is anticipating receipt of assay results from the remaining six holes within the next couple of weeks.

The company said all data from the infill program will be incorporated into a new open pit resource model due for completion in April.

“This process will again use the Localised Uniform Conditioning (LUC) modelling technique, which was successfully adopted for the recently completed Zoroastrian Central open pit mine,” Excelsior Gold said in its ASX announcement.

“The Zoroastrian Central LUC model predicted the tonnes, grade and overall gold metal within acceptable limits during the mining and reconciliation process for the last phase of mining activities.”

Once the open pit resource estimate has been completed, Excelsior will remodel the deposit for underground mining using the ordinary kriging estimation technique.

The company expects this will lead to a higher grade, lower tonnage estimate.

“Once the two resource models have been completed, mine design and scheduling work with costings will be carried out to optimise anticipated financial returns,” Excelsior said.

“The updated Zoroastrian model will also allow deeper, down-plunge extensional drilling to be designed, targeting the high-grade lodes at depths of more than 350 metres below surface.”

Excelsior has re-wireframed its eponymous Excelsior open pit deposit utilising updated in-pit mapping, historical reports and data from several diamond holes which had been re-assayed to confirm the new interpretation.

Grade estimation will be carried out using LUC modelling, which estimates into small SMU sized blocks, allowing for more selectivity which can be achieved during mining.

“The modelled tonnes and grades are therefore more likely to be achieved during mining and will assist in providing refined mine scheduling and cashflow forecasting as mine planning is undertaken,” Excelsior said.

“The new resource model is due for completion in April with the reserve model scheduled for completion in June.”

Excelsior Gold detailed exploration programs to be carried out in order to test for new discoveries along the Bardoc Tectonic Zone (BTZ) using a detailed geological and drilling database the company assembled from past and present exploration and mining activities within the KNGP.

Database reviews highlighted further anomalous results that will be followed up with reconnaissance drilling.

The company has flagged a 3,500m aircore program due to commence in early April on the northern extent of the Black Flag Fault (BFF) in the vicinity of the interpreted intersection between the BTZ and the BFF.

This program is designed to close in on exploration targets with RC and diamond drilling to follow as required.


Website: www.excelsiorgold.com.au