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Stonewall Resources commences drilling at Theta Hill gold prospect

Published 14-MAR-2018 11:47 A.M.


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Stonewall Resources Limited (ASX:SWJ) today informed the market it had commenced diamond drilling at its Theta Hill gold prospect this week, while an RC rig is being used to test targets as part of planning for potential open‐cut resource calculations and feasibility work for later in the year.

SWJ announced last week the maiden open cut resource at Vaalhoek of 0.62Mt @ 16.9g/t gold for 335koz (88% Inferred).

Drilling contractor OMT Exploration Drilling has now commenced the drilling with diamond tails to be completed on 20‐25 holes. The programme is expected to be completed by April, with assays made available from late March. All going to plan, SWJ expects a maiden open‐cut resource at Theta Hill by May 2018.

Now, at the same time, it should be noted that this company represents a speculative investment and those considering this stock for their portfolio should seek professional financial advice before making a decision.

The Theta Hill prospect is SWJ’s current focus for establishing a second JORC open‐cut resource as part of Project Bentley, which would mark an exciting milestone for the small-cap.

drilling rig stonewall resources

The drill rig on site at Theta Hill.

stonewall resources drill hole targets

Initial diamond drilling locations for Theta Hill. Additional locations to be determined as programme progresses.

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