Stonewall push towards gold Resource estimate at Theta Hill
Published 22-MAY-2018 11:38 A.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Gold development company Stonewall Resources (ASX:SWJ) has provided an update on its exploration activities at its TGME Project in South Africa. This comes as work continues towards re‐starting commercial production at Pilgrim’s Rest with three drilling rigs currently working at Theta Hill and nearby areas.
The company has brought back an RC rig to progress with the Resource drilling on the DG4 area of Theta Hill. Following a recent Resource upgrade, work continues towards delineating Resources at both DG4 and Theta North areas, where widespread gold mineralisation has been established.
The aim is to delineate reserves at this location, adjacent to the gold processing plant, which can be easily brought into production.
In order to rapidly progress the development of a Resource on this are, the RC rig has been recently modified to improve on the previous drilling performance. This improved system builds on lessons that have been learned from the last round of RC drilling.
Here is an image of the high grade intersection previously announced (1m at 126g/t gold, from 33m in DDH21):
At Rietfontein, work continues to dewater the mine to enable access for underground drilling for Resource estimation purposes. SWJ is progressing towards Indicated Resources and ultimately Reserves under JORC, 2012.
Earlier in the year a decision was taken to dewater the mine below four level via gravity decant and to access the mine via this footwall drive where better conditions were expected.
The aim is to create access into deeper parts of the mine for metallurgical sampling, and determine potential locations for underground resource drilling.
The water level is now 1‐1.5 metres below the hanging wall of 4 level adit and SWJ will monitor the progress twice a week with a view to continued dewatering ahead of planned access refurbishment to enable access for drill rigs.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
The company also announced that it is sponsoring the South African Gold Panning Championships, to be held on 2‐6 October, 2018 at Pilgrim’s Rest within the TGME project area. This event attracts hundreds of competitors and spectators providing a welcome boost to tourism in the area.
Pilgrim’s Rest is considered to be the location of the first official gold rush in South Africa in 1873. At one point over 1,500 panners descended on Pilgrim’s Rest before the hard‐rock reefs were discovered, leading to underground exploitation.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
