Antares boosts reserves at Lady Lina

Exploration activity has led to an 18% increase in reserves and resources at the Lady Lina gold property in Zimbabwe.

Antares Mining & Exploration (TSE) reports that proven and probable reserves now stand at 372,920 tonnes grading 4.04 grams gold per tonne, while measured and indicated resources total 2.03 million tonnes at 5 grams. The estimated cutoff grade for profitable mining is 3.1 grams.

In addition, exploration south of the old Susanna mine has identified a 400-metre-long, auriferous shear zone which has been named Susanna South. This new zone seems to occur within the same structure that hosts the Susanna and Yellow Aster zones.

A diamond drill program is under way on the Susanna South, which currently has an indicated resource of 107,239 tonnes grading 6.84 grams between the 60-metre and 240-metre levels.

At Yellow Aster, a development drift is expected to break into the recently dewatered Susanna mine workings within the next few weeks. The Susanna produced more than 933,000 grams (30,000 oz.) gold during the period 1907-1915.

Diamond drilling has confirmed the continuity of gold mineralization in the Yellow Aster shear down to the 240-metre level, and additional holes are in progress to test the shear to the 300-metre level.

Underground diamond drilling from the 150-metre level has established continuity of the Lady Lina Zone to the 300-metre level, recording values of up to 5.3 grams over a true width of 5.5 metres.

Underground evaluation of the Interloper zone is continuing on the 150-metre level. The zone contains an indicated resource of 139,984 tonnes at 7.5 grams. The Black Cat zone has been subjected to the first stage of underground development. One hundred metres of development was completed on the 180-metre level. Along the exposed zone, mineralization has been observed over widths averaging 15 metres. Preliminary sampling results will be available shortly. The Lady Lina is being developed by Antares in a joint venture with Forbes & Thompson, one of the largest privately owned gold mining groups in Zimbabwe.