Stonewall Resources (ASX: SWJ, SWJO) is currently focused on the TGME project near the historical gold mining town of Pilgrims Rest in Mpumalanga Province.
Following the recent 39% upgrade to the JORC (2012) resource, the focus is currently on delineating shallow open-cut resources, which can facilitate an early resumption to production.
The narrow, mostly flat-lying reefs are amenable to open-cut mining and a recent upgrade to the Vaalhoek resource (0.62Mt @ 17.5g/t Au for 335koz) is an example of the type of high grade targets we are seeking to bring into production.
The Theta Hill project is immediately adjacent to our carbon in leach plant at Pilgrims Rest and has been the focus of recent drilling. A maiden JORC resource is planned including both high grade reefs (a recent intersection of 126g/t of gold over 1m indicates the grade potential, though we suspect the overall resource grade will be considerably less). The shallow DG4 target potential was highlighted by the recent trenching results (including 38m @ 1.28g/t Au in Trench E) and we are aiming for this material to represent easily accessible, early feed to the refurbished CIL plant in 2019.
Dewatering is under way at Rietfontein (2.9Mt @ 8.7g/t for 780koz) to enable construction of underground access adjacent to the old workings. This will facilitate underground diamond drilling to upgrade the resources, ultimately towards reserve status.
Additional exploration opportunities are being identified within the 67km of strike length. Follow-up work is also planned on these targets as part of the Project Bentley work to delineate high grade, primarily open-cut or easily accessible gold reefs which can be brought into production for low capital cost.