Northwest doubles gold and antimony resource

THE DRILL SERGEANT: Northwest Resources has increased its JORC reported Mineral Resource estimate at the Golden Spec deposit, part of its Nullagine gold and antimony project located in the Pilbara region of Western Australia by 113 per cent to 75,000 ounces of gold and 2,300 tonnes of antimony.

In its announcement to the Australian Securities Exchange the company said high grade zones of mineralisation exist within the mineral resource, which it estimated to contain 49,000 ounces of gold grading 18 grams per tonne and 1,750 tonnes of antimony grading 2.1%.

Northwest is confident the Mineral Resource estimate at Golden Spec will underpin profitable underground mining operations at the Golden Spec and Blue Spec deposits.

The company is also announced a maiden JORC reportable compliant Mineral Resource estimate for the Red Spec deposit of 18,000 ounces gold.

Red Spec lies 150m east of the Blue Spec deposit and Northwest said the maiden Mineral Resource confirms its view that the Blue Spec Shear has the potential to host multiple new deposits of gold and antimony.

The increased and new Mineral Resource estimates take the Nullagine gold & antimony project global resource to 402,000 ounces of gold and 9,000 tonnes of antimony.

The Golden Spec Mineral Resource upgrade is the product of a recent structural re-interpretation of the Golden Spec deposit and two targeted drilling programs designed to test the new interpretation.

“The difference in grade between the 2007 Mineral Resource estimate and the current Mineral Resource estimate is attributable to the inclusion of new near-surface lower grade material,” Northwest Resources said in its announcement.

“It is important to note that within the current Mineral Resource there are high grade zones estimated to contain 49,000 ounces of gold grading 18 grams per tonne and 1,750 tonnes of antimony grading 2.1 per cent.

“A clear trend at both Golden Spec and Blue Spec is increasing grade with depth and Northwest anticipates that further drilling from underground will increase the overall grade of Golden Spec.”

Northwest said it is confident significant potential to further increase the size of Golden Spec exists through further drilling as the deposit is open to the east and at depth.

The company said the increased Mineral Resource estimate for Golden Spec will allow it to complete an underground mine design and mining plan for the development of the Golden Spec and Blue Spec deposits.