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| 10 Million ounce (311,000 kg) Gold Deposit. |
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Citigold's gold deposit is currently the largest and highest grade in Australia.
 |  | 10 million ounces of gold (331 tonnes) Inferred Mineral Resource - JORC compliant. |
| Contained in 23 million tones of rock at 14 grams of gold per tonne of rock. |
| Size of the deposit determined after an extensive period of evaluation by the company's experienced technical team led by eminent geologist Mr Christopher Towsey, in accordance with the Australasian JORC Reporting Code.
The report was published in 2005. |
| Gold deposit contained in 22 of the 33 individual mineralised bodies considered in the assessment. |
| Contained within Citigold's continuous mineral tenements located at Charters Towers, North Queensland, Australia. |
| Gold grade estimates are based on 1,550 significant drilling samples. |
| Drill intersections from 147,000 metres of underground and surface drilling in 1,800 drill holes. |
| 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. |
| Independent research indicates that the gold under Charters Towers may continue down to 3,000 metres deep. So the huge area below the drill holes has great potential. |
| In 2008 Citigold, with the
financial support of the Queensland Governments Department of Mining and Energy,
drilled a very deep 2,000 meter diamand core hole and successfully intersected
several reef structures. The deepest Intersection was close to the 2,000 meter
therefore proving the structures
containing the gold mineralisation extend to that depth. |
| Our plan is to build up to a mining rate of 300,000 ozs a year. A mining rate of 500,000 ozs a year would be required to mine the same number of ounces in a 15 year period. |
| Charters Towers gold is hosted in structures with good vertical continuity down to 1,300 metres based on deep drilling and detailed historical mining records. |
| 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. |
| 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. |
| 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. |
| 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. |
Click HERE for the full 100 page technical report "Report on the Inferred Mineral Resources for the Charters Towers Gold Project".
(Page Updated January 2010)
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