Work Plan for Murchison Gold Project (Burnakura and Gabanintha)
The work plan for the Murchison project will consist of re-assessing the production profile at current higher gold prices, developing a range of high priority exploration targets, as well as further advancing existing mineral resources so that updates can be incorporated into a new life of mine plan. In addition, there will be further corporate development work, and other opportunities that could potentially add value to shareholders that will be explored.
The main focus of development work will include:
- Review and updates of existing drilling data including wireframe remodelling for a new Alliance resource estimation considering an underground mining scenario.
- Review status of data for all deposits that are included in the life of mine plan and generate a program of work to update existing data to ensure robust mine plans.
- Collection of additional data and reinterpretation of data for deposits included in the life of mine plan as required.
- Drillhole planning to infill and immediately extend deposits to ensure mine plans are based on comprehensive datasets.
- Resource updates as required. This will be especially important for resources that are being targeted by underground mining.
- Complete an updated life of mine plan and financial model for production potential.
The main focus of exploration will include:
- Drill programs that will target down plunge of existing high-grade resources that have the potential to be mined underground such as at NOA 1, 7-8 and Alliance deposits at Burnakura and Yagahong deposits at Gabanintha.
- Close spaced magnetic orientation surveys that may be able to delineate favourable structures in prospective host lithologies such as BIF.
- Upgrade existing drilled areas to resource status such as Tumblegum and Kavanagh at Gabanintha.
- Further refinement and ranking of regional style exploration targets, that have the potential to host significant deposits. There are multiple areas in both projects that have no first pass sampling information.
- Complete budget in line with exploration strategy.
The scientific and technical information in this press release has been prepared by Adrian Woolford, B.Sc. (Hons) Chief Geologist of Monument Mining Limited; reviewed and approved by Roger Stangler, MEng, FAusIMM, MAIG, a Qualified Person as defined by NI43-101, retained by Golder Associates Pty Ltd.