New starting point for Centennial

TROUBLED Victorian gold minnow Centennial Mining has restated its resource at the 150-year-old A1 gold mine in the historic Walhalla goldfield in Victoria to with total resources now at 249,000 ounces – a key step in its plan for recapitalising and defining a mine plan that could keep A1 ticking over for five years.

New starting point for Centennial New starting point for Centennial New starting point for Centennial New starting point for Centennial New starting point for Centennial
The restated resource is now 1.26 million tonnes grading 6.13 grams per tonne with an indicated 208,602t grading 5.3gpt for 36,000oz and 1.05Mt at 6.29gpt for 213,000oz inferred.
 
That compares to A1's last reserves statement of 1.5Mt grading 6.1gpt for 306,000oz, and is sufficient for two years' worth of long-hole stoping ore.
 
The latest reserves are based on the back of its recent mining experience and drilling of the area between the area between the 1400mRL and 1260mRL levels of the mine.
 
Executive chairman Dale Rogers said it was evident from the past month of ore development at A1 that the new high-grade Victory North area was significantly larger than modelling for the resource update...

topics

loader