New zones of gold mineralisation and some high grade gold extensions have been discovered by Tanami Gold (ASX: TAM) at the Central and Western Tanami projects in the Northern Territory.
Highlights from the Central Tanami project include:
- 3 metres at 12.7 grams per tonne (g/t) gold from 101 metres;
- 5 metres at 5.2g/t gold from 83 metres; and
- 20 metres at 3.0g/t gold from 158 metres.
These latest results, plus other resource discoveries since May 2010, will be included in an updated resource due out in February 2011.
Central Tanami is located 100 kilometres east of Western Tanami, within economic trucking distance from the 1.2 million tonne per year treatment facility.
The project comprises multiple gold deposits with a current Measured, Indicated and Inferred Resource of; 11.7 million tonnes grading 2.8g/t for 1.061 million gold ounces.
A major plus at the project is that recent reverse circulation and diamond core drilling targeting extensions has returned multiple high grade intersections, with all deposits drilled to date remaining open.
Highlights from the Western Tanami project include:
- 2.2 metres at 6.6g/t gold from 316 metres;
- 4.1 metres at 3.3g/t gold from 321 metres; and
- 1.2 metres at 4.6g/t gold from 328 metres.
Providing the potential for more gold hits, all lodes within the Sandpiper system at the project remain open along strike to the east, up and down dip and down plunge.
In other Tanami news, the company said it is awaiting the grant of two substitute exploration licences at Central Tanami.