logo-loader

Barra Resources Ltd to start drilling for gold at Phillips Find project

Published: 01:30 06 Apr 2016 BST

au_wa__350_5704429a4741c

Barra Resources Ltd (ASX:BAR) is ready to start drilling to define gold mineralisation at the Phillips Find Mining Centre (PFMC), 45 kilometres northwest of Coolgardie in Western Australia.

Barra holds 34 contiguous tenements covering 10 kilometres of the highly prospective PFMC stratigraphy.

The PFMC comprises three open‐pit deposits, Bacchus Gift, Newhaven and Newminster, with combined gold production since 1998 of 32,839 ounces at an average mined grade of 3.3 g/t gold.

Barra will conduct a reverse circulation drilling program comprising 8 holes targeting the extension to the main zone of high‐grade mineralisation beneath the Newminster pit at the PFMC.

The program is designed to extend and define the main zone of high‐grade gold mineralisation called the West Lode, over an initial strike length of 100 metres.

The most recent mining activity at the PFMC was done at the Newminster open‐pit which commenced in January 2013 and was completed by September 2015.

A total of 111,082 tonnes with an average grade of 2.52 g/t gold was mined to produce 9,018 ounces of gold by Blue Tiger Mining Pty Ltd pursuant to a right‐to‐mine agreement with Barra.

All three deposits have the potential for further development via underground mining with potential gold mineralisation extending beneath each pit.

Barra also receives royalties from the Kidman Resources/Blue Tiger Mining Joint Venture related to gold production. In the December quarter, Barra was entitled to receive $70,125 in gold royalty payments.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

FTSE rises ahead of Easter weekend, JD Sport gains on upbeat outlook -...

The FTSE 100 gained on the final morning of this shortened Easter trading week. Festive cheer was limited though, as Thames Water confirmed shareholders would not provide it with a £500 million rescue package, prompting speculation over the London supplier’s future. On a more positive...

25 minutes ago