re: ttr - large resource increase
Tectonic Resources NL is pleased to announce that the resource estimate on the Kundip Mining Area has been completed. The following key features culminating from this review are: • The combined Global Resource Estimate for the Phillips River Gold Project is made up of: A revised estimate for Kundip of: 2.6 million tonnes at 4.33g/t gold and 0.47% copper and The shallow bulk mining resource of Trilogy containing: 4.4 million tonnes at 0.96g/t gold, 55g/t silver, 1.27% copper, 2.68% lead and 1.48% zinc Yielding a combined figure of: 7.0 million tonnes at 2.21g/t gold, 35g/t silver, 0.91% copper, 1.68% lead and 0.93% zinc • This represents a contained metal inventory of: 501,000 ounces of gold, 7.9 million ounces of silver, 69,000 tonnes of copper, 118,000 tonnes of lead and 65,000 tonnes of zinc. For comparison purposes only, establishing a gold equivalent using today’s prices for each of these metals equates to an insitu 1.50 million ounce gold resource. • Exploration drilling at Kundip since May 2004 has significantly increased the Kundip gold resource by 42% over an area of 1.4 km by 1.0 km. • All resources drilled at Kundip and Trilogy remain open at depth and along strike with current drilling limited to a maximum of approximately 120m vertical depth other than Harbour View (Kundip) where drilling extends to 200m maximum vertical depth. This completion of the resource estimate concludes the first step in the preparation of the full feasibility study for the Phillips River Gold Project. The Company has taken the prudent action of running the preparation of the Notice of Intent to Mine in parallel with the compilation of the resource estimate and the feasibility study, with this is also nearing completion.
TTR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
