AMN - SOUTH AFRICA: Golden results from Theta Hill drilling

Stonewall Resources continues to receive encouraging drilling results from the Theta Hill deposit of its TGME Gold Project in South Africa. A third rig has recently been mobilised to Theta Hill as Stonewall aims to delineate a maiden open‐cut resource in the DG4 area.

New assays from Lower Theta Reef include 0.9 metres at 9.3 g/t gold from 18.6 metres; 2 metres at 4.9 g/t from 32 metres; 1 metre at 5.3 g/t from 6 metres; 4 metres at 3.3 g/t gold from 26 metres; 1 metre at 4.3 g/t from 40 metres; and 3 metres at 6.5 g/t from 39 metres.

Two diamond rigs are drilling and a reverse circulation rig has now been deployed to accelerate the drilling program, aiming to delineate indicated resources and ultimately reserves to underpin funding of CIL plant refurbishment.

The TGME project hosts a 5.15 million ounce gold resource and Stonewall is confident of adding to this with ongoing drilling.

A further resource upgrade is due following completion of the current work program at Theta Hill, which is scheduled for mid‐July.

The DG4 area at Theta Hill is within 700 metres of the existing and fully permitted TGME processing plant and tailings dam.

Trenching in this area is targeting the previously unrecognised Bevett’s mineralisation, which is variably exposed at surface over a large area. More than 500 samples are at the lab with further assays pending in coming weeks.

The recent drilling results along with support from a new cornerstone shareholder through the recent A$5 million funding have provided encouragement for Stonewall.

Managing director Rob Thomson said: “The reintroduction of the RC rig with certain modifications is assisting penetration to Lower Theta target depths in the difficult ground conditions.

"The drilling continues to deliver positive grades and confirms the thesis of shallow, widespread gold mineralisation at this location, right next to the processing plant.

"The recent focus on the DGs, particularly DG4, should add to the ultimate ounces which form part of the mineral inventory we are targeting to underpin a resumption of gold production at the project as soon as possible.”

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