Mount Carlton Gold-Silver-Copper Project
Resource Potential
Resources in the Silver Hill deposit has increased tonnes by 45% (7.2 mt), silver by 49% (15 moz), and gold by 38% (350,000 oz) when compared to the September 2007 resource estimate. This increase is equivalent to 650,000 ounces of gold.
Consultants Hellman & Schofield Pty Ltd estimate that the Silver Hill Deposit Indicated and Inferred Resources now total 23.1 million tonnes at 1.70 g/t gold, 61 g/t silver, and 0.29% copper, equivalent to 2.65 million ounces gold, using a $20 cut-off.
Mt Carlton Total Project Resources April 2008
| Tonnes | Grade g/t Au |
Gold Ounces |
Grade g/t Ag |
Silver Ounces |
Grade % Cu |
Copper tonnes | |
| Silver Hill Deposit | 23,100,000 | 1.70 | 1,263,000 | 61 | 45,000,000 | 0.29 | 66,700 |
| Mt Carlton | 966,000 | 1.35 | 4,2000 | 38 | 1,090,000 | 0.345 | 3,400 |
| Mt Carlton - Western Lodes | 558,000 | 1.49 | 26,700 | 120 | 2,100,000 | n/a | 0 |
| Herbert Creek East | 351,000 | 2.17 | 24,500 | 4.2 | 47,000 | n/a | 0 |
| Total Resources | 25,000,000 | 1.70 | 1,350,000 | 60.3 | 48,200,000 | 0.28 | 70,000 |
Note: Mt Carlton Western Lodes Resource was estimated by sectional polygonal methods. Herbert Creek East and Mt Carlton were estimated by Kriging. Silver Hill Deposits were estimated using Multiple Indicator Kriging by Hellman & Scholfield.
Mt Carlton Project Resource Growth
| Tonnes | January 2006 |
July 2006 |
March 2007 |
September 2007 |
April 2008 |
Golds Equivalent |
| GOLD | 94,000 oz | 308,000 oz | 857,900 oz | 1,024,800 oz | 1,350,000 oz | 1,350,000 oz |
| SILVER | 3,200,000 oz | 13,200,000 oz | 20,967,000 oz | 33,437,000 oz | 48,200,000 oz | 846,000 oz |
| COPPER | 4,500 t | 25,000 t | 38,523 t | 55,800 t | 70,000 t | 454,000 oz |
| TOTAL | 2,650,000 oz |
Note: Calculated Gold Equivalent grade is based on 1 gram gold = 57 grams silver = 0.5% copper.
Hellman and Schofield has advised that a significant proportion of the Silver Hill resource is likely to be upgraded to Measured status in the near future, upon successful completion of normal QAQC (quality control) validation, which is in progress.