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10 million ounces of gold (331 tonnes) Inferred Mineral Resource JORC compliant. |
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Contained in 23 million tonnes of rock at 14 grams of gold per tonne of rock. |
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Size of the deposit determined after an extensive period of evaluation by the companys experienced technical team led by eminent geologist Mr Christopher Towsey, in accordance with the Australasian JORC Reporting Code. |
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Gold deposit contained in 22 of the 33 individual mineralised bodies considered in the assessment. |
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Contained within Citigold's continuous mineral tenements located at Charters Towers, North Queensland, Australia. |
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Gold grade estimates are based on 1,559 significant drilling samples. |
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Drill intersections from 147,053 metres of underground and surface drilling in 1809 drill holes including 44,259 metres is diamond-core (mainly HQ [63.5mm] and NQ [47.6mm] diameter) in 322 holes, 94,694 metres is reverse circulation (RC) percussion drilling in 1,240 holes, and 8,100 metres of other non-core drilling (mainly open-hole percussion) in 247 holes. |
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Drilling samples only go to a depth of 1,200 metres, so the entire 10 million ounce resource is above that, with the deposit open below that depth. |
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There are 22 significant drill intersections deeper than 1,000 metres, of which 19 are deeper than 1,100 metres and 10 deeper than 1,200 metres (maximum gold grade 20.54 g/t). The deepest significant intersection is 1,300.1 metres (2.3 m.g/t Au). |
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The holes intersected down-dip and along-strike extensions of known structures. |
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Charters Towers gold is hosted in structures with good vertical continuity down to 1300 metres based on deep drilling and detailed historical mining records. |
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27 metre-grams of gold per tonne of rock is the average of 272 significant drill intersections in the mineralised bodies, above at a cut-off of 9 metre-grams of gold per tonne. |
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27 metre-grams of gold per tonne of rock is the same as the historical mining of the in situ resource grade. Modern drilling of the remaining material matches the historically mined gold grades. |
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Due to mechanisation modern mining uses a lower cut-off grade of 5.5 grams of gold per tonne of rock delivered to the gold extraction plant and 3 metre-grams of gold per tonne of rock as its underground resource cut-off grade. |
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The Resource grade of 14.7 metre-grams of gold per tonne of rock was the average grade from 623 significant drill intersections above 3 metre-grams of gold per tonne. Drill intersections in the central 'city' mining area showed a slightly lower grade of 13.5 grams of gold per tonne of rock. |
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