------- Please find the link below to our latest announcement relating to further drilling results from our flagship Castle Hill project.
These results follow on from the announcement released on 25 June and form part of the +40,000 metres of diamond and RC drilling completed at Castle Hill stage 1.
Both infill drilling and depth extension drilling have been completed within the tonalite and have demonstrated the quality of the Resource and the high potential for conversion to Indicated category for the open cut mine reserve study. We have drilled out the core part of Stage 1 on a 50X25m grid and results show continuity within the previous drilling. The depth extension drilling has continued to show excellent widths and improving grades with depth and remains open.
Lateral extension drilling continues to intercept mineralisation and we are expecting results from our programmes extending into the adjoining basalt to the NE and to the south in coming weeks.
In short, Castle Hill is going to be a series of very large open cut mines starting at surface with very low strip ratio and excellent metallurgy 35mins drive from Kalgoorlie. Rigs are currently drilling along the north eastern contact of the tonalite and basalt in what we believe will become Castle Hill Stage 3. Red Dam drilling will follow with 17,000m planned to test depth and strike extensions.
Blue Funnel mining continues as planned with milling of the ore scheduled for August. The DFS is also on track for Dec completion as planned.
Cube Consulting, our independent geological consultants are still working with all the new data and we expect a signed off resource update this Quarter. Given this model will be used to deliver the DFS, reserves and 10 year mine plan, we want to enter as much of the drilling results as possible before the end of July to maximise the impact of the infill and extensional drilling programmes.
PXG Price at posting:
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