Drilling has established a reserve of 100,000 tons grading 0.35 oz gold at Black Swan Gold Mines’ Merriland property in Queensland, Australia. The company is operator for the project and has a 60% interest. Golden Pyramid Resources and Capricornia Prospecting each hold a 20% interest. The 1987 drilling program was directed at ore delineation in a steeply dipping vein system known as the Welcome Lodes. This system is located on the southwest part of their claim group. The early part of the program established continuity of ore grade mineralization to a depth of 250 ft, says Black Swan President Arthur T Fisher.
The balance of the program confirmed the mineralized zone plunges to the west and reaches a depth of at least 500 ft which has “enhanced the tonnage potential,” he claims, noting the zone is still open along strike and to depth.
Percussion drilling on several other vein structures to the north of the Welcome Lodes was also completed. Ore grade mineralization was found which will be the subject of definition drilling in the next six months. Mr Fisher expects that sufficient information will be available by year-end to allow the calculation of mineable reserves. “Production planning should then be possible by the end of the year,” he adds.
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