Excelsior upgrades Kalgoorlie North resource

THE BOURSE WHISPERER: Excelsior Gold has increased the total Measured, Indicated and Inferred gold resources at the company’s 100 per cent- owned Kalgoorlie North gold project.

Total resources for the project now stand at:

16.7 million tonnes at 1.61 grams per tonne gold for 868,500 ounces (at 0.6g/t and 3.0g/t gold lower cut-offs).

“The new resource represents a 13 per cent increase in total project contain gold ounces and it is predominately driven by a major expansion of the potentially open pittable resources at the Zoroastrian deposit supplemented by a new maiden resource at the Parkerville prospect and an almost threefold increase in the resources at Big Blow South,” Excelsior Gold explained in its ASX announcement.

 

Kalgoorlie North project – Central Resource area geological plan
(showing updated resource areas in yellow). Source: Company announcement

According to Excelsior drilling results from a thirty-five hole reverse circulation drilling program conducted at Zoroastrian in June and July delineated gold mineralisation on the Birthday Dream, Royal Mint and associated structures on the western margin of the Zoroastrian Dolerite.

The drilling also intersected the high grade structures extending below and to the
south of the pit in the Zoroastrian South area.

Total resources at Zoroastrian are:

2,243,800 tonnes at 2.9g/t gold for 209,000 ounces.

The Jackorite prospect is located approximately 3.1km south west of the Excelsior deposit, and contributed to the new resource model with an increase of 18 per cent in the total resource ounces.

Indicated and Inferred resources for Jakorite are:

117,850 tonnes at 2.50g/t gold for 9,470 ounces (at 0.6g/t gold lower cut-off)

Big Blow South is located 3.7km south of the Excelsior deposit and hosts high-grade gold mineralisation within a porphyry unit intruded on the contact between the Big Blow Chert and underlying ultramafics.

The total Big Blow South gold resource is:

123,900 tonnes at 5.48g/t gold for 21,825 ounces (at 3.0g/t gold lower cut-off)
The Parkerville prospect is located approximately 3.1km south of the Zoroastrian deposit.

Excelsior considers Parkerville to represent one of the many prospects at Kalgoorlie North that contain significant gold intercepts requiring further assessment.

Recent drilling confirmed the results from historical drilling which had intersected shallow
(less than 20m vertical depth) supergene gold mineralisation over approximately 300m of strike.

The calculated maiden total Parkerville resource is:
149,340 tonnes at 1.73g/t gold for 8,330 ounces (at 0.6g/t gold lower cut-off)