GoldArc Resources (ASX: GA8) | Further Standout Intercepts at Mt Stirling Well
MarketOpen Trading Titan Podcast. Episode: GoldArc Resources Limited (ASX: GA8). Grade Control Update, Mt Stirling and Mt Stirling Well.
GoldArc Resources Limited has released its fourth batch of grade control results from Mt Stirling Well and its ninth batch from Mt Stirling, reporting the strongest individual intercept to date from Mt Stirling Well: 1 metre at 31.0 grams per tonne gold from 15 metres depth. With approximately 74 percent of the combined 34,000-metre program now complete, the company says the results are informing updated mining models and mine planning in partnership with BML Ventures ahead of the anticipated approval of the Mining Development and Closure Proposal (MDCP).
In this episode: the standout grade control intercepts from both deposits, progress of the combined drilling program, how the company says the results are informing updated mining models and mine planning, the commercial arrangement with BML Ventures, including full funding of the grade control program under a 50/50 net profit share arrangement, GoldArc's retained 100 percent ownership of both Mt Stirling and Mt Stirling Well, and the key regulatory milestone the company has identified before mining can commence.
Key facts from the announcement: The strongest intercept reported to date from Mt Stirling Well is 1 metre at 31.0 grams per tonne gold. Other notable results include 2 metres at 13.46 grams per tonne, 2 metres at 9.43 grams per tonne, 2 metres at 6.31 grams per tonne, and 1 metre at 14.7 grams per tonne gold. Mt Stirling Well hosts a JORC Inferred Mineral Resource of 198,000 tonnes at 2.3 grams per tonne gold for 15,000 ounces. Mt Stirling hosts an Indicated Mineral Resource of 391,000 tonnes at 2.1 grams per tonne gold for 26,000 ounces and an Inferred Mineral Resource of 2.158 million tonnes at 1.6 grams per tonne gold for 111,000 ounces. Approximately 25,292 metres of the planned 34,000-metre grade control program have been completed. The grade control program is fully funded by BML Ventures under a 50/50 net profit share arrangement, while GoldArc retains 100 percent ownership of both Mt Stirling and Mt Stirling Well. Subject to MDCP approval, the company anticipates advancing toward the commencement of mining at Mt Stirling.
This episode draws solely on GoldArc Resources Limited's published ASX announcement. All content is factual only. Nothing in this podcast constitutes financial advice. Listeners should conduct their own research and consider their own financial circumstances before making any investment decision.