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 high grade gold in extension drilling at Central and Western Tanami projects
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.
