Growth Trajectory – 100Koz + production profile
Since the Project Bentley announcement on 6 September 2017 (https://www.asx.com.au/asxpdf/20170906/pdf/43m3hsnytg82rc.pdf), the Company has shifted its focus to near surface open-cut mining opportunities. Through continued effort in sorting out and digitising historical production/exploration data over the Company’s controlled 43 historical mines, more and more opportunities similar to the Theta Hill mine will be identified and drilled out. Within 3 kms of the TGME gold plant are 7 potential areas for open cut exploration (Figure 1).
Figure 1: Central Area, TGME Plant and 7 immediate open-cut targets
Unlocking the Future – 6Moz+ development pipeline
Very little modern exploration has been conducted in the Pilgrim’s Rest and Sabie areas in the past 20 years. This is due to a past focus by project owners on trial mining or near-mine exploration.
The next phase of exploration will include other open pit targets and converting the 1.3 Moz resources to an Indicated JORC (2012) status. Theta South and Columbia Hill extension will require further drill testing as well as targets on other Mining Rights (Figure 2-5).
Figure 2: Central Mine Area – Historical Mine Sites and TGME Gold Plant
Figure 3: Central/North tenements
Figure 4: Central / Southern Mine Area, key historical mines
Figure 5: Southern tenements
Key to success – Drill-to-validate exploration Model
The Company’s geological database, compiled over many years, includes data from over 100,000 underground channel samples and approximately 900 historical drillholes. The data is put into GIS packs to assist in the design of each drilling campaign. The Company is simply drilling into known gold bearing reefs which are flatly dipping (3 to 8 degrees) and these make great drill targets (Figure 6).
Figure 6: Drill-to-validate Model at Theta Project