A 36-hole shallow drill program by
Holmer’s new estimate of 1.96 million tonnes grading 8 grams gold per tonne is based on 68 drill holes. A June 1997 resource estimate, calculated from the results of 56 holes, had put the resource at 1.3 million tonnes at 8 grams.
The revised figure assumes a cutoff grade of 3 grams per tonne and a minimum true width of 1 metre. The drill holes are spaced 25-50 metres apart.
The deposit, 5 km northwest of the
Three of the zones — Upper, Hangingwall and Main — are in the mafic volcanics; a fourth, the Footwall zone, is at the contact with an ultramafic body. All four of these zones are restricted to a 200-metre-wide zone of deformation that Holmer geologists believe is a western extension of the main Destor-Procupine fault zone. The fifth zone, the Ultramafic, is in the ultramafic body itself.
Part of the resource Holmer has defined is a low-grade body within 100 metres of surface, containing 720,000 tonnes with a grade of 2.6 grams gold per tonne, based on a 0.5-gram cutoff. Holmer is eyeing this zone as a possible open-pit mine.
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