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The Maxwells deposit at Randalls has a mineral resource of 2.4 million tonnes at approximately 5.2 g/t and contains about 410,000 ounces of gold, which represents the Company’s highest grade large gold deposit.
Gold mineralization is associated with banded-iron formation (BIF) units within the Mount Belches sequence – a very thick sequence of turbidite quartz wackes. Gold mineralisation is expressed as minor quartz veining and pyrite / pyrrhotite / arsenopyrite sulphides and free gold.
Gold mineralisation remains open to the south and at depth. Significant recent drilling results include:
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8m @ 11.12 g/t gold, including 1m @ 78.23 g/t;
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5m @ 9.20 g/t gold, including 1m @ 36.57 g/t; and
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3 m @ 34.13 g/t gold, including 1 m @ 95.46 g/t.
Drilling has identified mineralisation extending over 100 metres south of the pit crest with better intercepts of 4 metres grading 10.80 g/t gold from 44 metres and 9 metres grading 2.26 g/t gold from 20 metres. There is no drilling for a further 1.5 kilometres south along the prospective BIF horizon. This near surface mineralisation and any further extensions can be readily incorporated into future mine plans.
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