AUL 0.00% 28.5¢ austar gold limited

ear to the ground, page-19

  1. 399 Posts.
    it may be the gold,i didnt realise this until i just a good read

    recent resource estimate undertaken by consultants, Hellman and Schofield was necessary so that Mantle could gain a higher level of confidence in the resource. Much of the resource has now been upgraded from Inferred to Indicated and Measured. The latest resource by Hellman and Schofield at 0.2 g/t Au lower cutoff is tabulated below in Table 1. Areas of influence around drill holes have been reduced markedly. Previously the resource was all only in the Indicated category.
    Table 1 Granite Castle Gold and Silver Resource Estimates @ 0.2 g/t Au
    Class
    tonnes
    Au g/t
    Au Ozs
    Ag g/t
    Ag Ozs
    Measured
    122,614
    3.99
    15,727
    53.3
    209,941
    Indicated
    264,021
    3.44
    29,198
    67.6
    574,182
    Inferred
    460,443
    2.32
    34,375
    50.4
    746,680
    Total
    847,078
    2.91
    79,301
    56.2
    1,530,803
    Hellman & Schofield limited the current resource to above 540m RL along most of the strike extent and to 420m RL where deeper drill hole intersections allow, whilst the historic resource was projected to the 380m RL. (Natural surface is approximately 690m - 695mRL). As such, the area of resource attributable to the JORC resources shown in Table 1 are mainly in the top half of the section shown in Figure 3 below.
    This figure shows a long section of the Granite Castle resource highlighting the drilling pierce points considered in the resource. This long section relates to the thick black line to the west of the river on the inset of Figure 2 thereby giving an idea of the prospectivity to the north and especially to the east across the river. The deeper holes shown on Figure 3 are spaced widely apart so infill drilling is essential to increase the confidence of any future estimate at those levels.
 
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