www.tanami.com.au
Tanami Gold NL is an Australia-based company engaged in gold mining and mineral exploration. Tanami Gold NL's gold operations are located approximately 30 kilometres west of the Western Australia-Northern Territory border. The Coyote mine once seen as a "narrow vein gold deposit" is proving to be anything but that with mining revealing mineralised zones up to 5 metres wide and in deeper diamond drill holes, widths to 10 metres. Grades over these widths have averaged around 7-12 grams per tonne Au. The Company is currently in the early stages of developing the main Gonzales lode underground and the P2 ore-body in the open pit is planning to initially target 50-70,000 ounces per annum.
Tanami Gold hits more high grade gold at Central Tanami Project
Perth-based Tanami Gold (ASX:TAM) has moved significantly closer to recommencing operations at its Central Tanami Project in the Northern Territory, with a number of high‐grade drilling results from the Southern and Miracle deposits.
The intersections come just a week after high grade results were reported from the Western Tanami Project in Western Australia.
The latest results confirm the structures and mineralisation at the Southern and Miracle deposits persist below the base of the existing open pits. Both remain open along strike and down plunge.
Significant results from Southern include:
- 4 metres @ 11.1g/t from 41 metres and 3 metres @ 63.7g/t from 109 metres in SORC8;
- 19 metres @ 7.8g/t from 111 metres in SORC5;
- 11 metres @ 9.1g/t from 23 metres in SODD4 pre‐collar; and
- 3 metres @ 15.1g/t from 175 metres in SORC7.
Significant results from Miracle include:
- 3.5 metres @ 32.2g/t from 156.9m in TODD10;
- 10 metres @ 5.6g/t from 105 metres in TORC39;
- 15 metres @ 3.1g/t from 134 metres in TORC57; and
- 3 metres @ 12.7g/t from 112 metres in TORC62.
The Southern and Miracle drill results confirm the company’s confidence in the Central Tanami Project area and reinforce the expectation that for many of the target areas, especially around the 43 existing open pits, the structures and mineralisation persist along strike and at depth.
The company’s combined Central and Western Tanami Mineral Resource now stands at over 1.6 million ounces.
Graeme Sloan, managing director/CEO, said that the current 1.06 million ounce Central Tanami Project Mineral Resource can be increased substantially.
With the recent exploration success at both areas, Tanami Gold is well positioned to achieve its corporate objective of recommencing its mining operations at the Central Tanami Project by the end of 2011.
