AMN - SOUTH AFRICA: Stonewall lifts TGME gold resources by 39%

Stonewall Resources has boosted total gold resources by 39% to 5.15 million ounces at the TGME Goldfield in South Africa. The resource now stands at 34.7 million tonnes at 4.62 g/t gold with 24% in the measured and indicated category and the remainder in the inferred category.

Largest sources of the increase are a 146% increase in resources at Glynns-Lydenburg and inclusion of the 581,000-ounce resource at Vaalhoek. Glynns-Lydenburg resource increased by 975,000 ounces to 9.8 million tonnes at 5.2 g/t for 1.64 million ounces, all in the inferred category.

These resources were re-calculated as part of a process of collating, capturing and digitising historical datasets and re-investigating the historical mining potential through modern modelling and estimation techniques.

This major technical exercise has been delivered on schedule by the company’s independent geological consultants, Minxcon.

Thousands of data-points including drilling data, underground face sampling and other data has been incorporated into the database, the result of staff and consultant dedication over the last year or more.

The following historical mines were also reviewed - Clewer, Dukes Hill and Morgenzon (CDM) and Frankfort.

The updated resource estimate excludes the focus of drilling at Theta Hill and it is expected to grow further once the drilling campaign is completed and a maiden JORC 2012 mineral resource is estimated.

Further reviews of other mines within the company’s portfolio are also expected to add to resources

Stonewall’s focus is now on upgrading inferred resources to the indicated category, ahead of planned reserves declaration.

Managing director Rob Thomson said: “We are very pleased with the progress made over the last year in re-evaluating all of the historical data accumulated through over 130 years of mining in the vicinity of the TGME project.

“We thank our independent geologists Minxcon of South Africa for completing this work on schedule for the end of April 2018.

“This latest mineral resource upgrade has added a further 1.43 million ounces to our mineral resource base, with numerous targets identified for follow-up drilling and evaluation for additional Project Bentley open-cut targets as well as new underground opportunities.

“We expect this mineral resource to grow further in coming weeks with the inclusion of maiden mineral resources at the high-grade Theta Hill open cut and we continue to progress towards our goal of restarting gold production at the earliest opportunity.”

Up to three rigs will be operating at any one time at Theta Hill and neighbouring areas with the third rig expected to arrive in the last few days.

Latest results from this program are 1 metre at 126 g/t from 33 metres in the Bevetts Reef and 1.0 metre at 17.9 g/t from 10 metres in the Lower Theta Reef.

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