Ann: Mincor Gold Update, page-7

from rising resources today -

This included a substantial upgrade in the status of the Jeffreys Find Mineral Resource, with 75 per cent of the 61,650oz resource now classified as Indicated.
Minor also revealed new potential had emerged at the Neo prospect, just 500m north of Jeffreys Find. Pit optimisation studies are underway, potentially paving the way for full feasibility studies.
Resource modelling is also advancing rapidly on Mincor’s other Widgiemooltha gold prospects.
“Mincor believes that a number of existing gold prospects on its tenements – ranging from Jeffreys Find, located 40km north-east of Norseman, to West Oliver, Darlek, Bass South and Flinders near Widgiemooltha – may have the potential to underpin a series of profitable open pit gold mining operations,” the company said.
“An initial low-capex and small-scale start-up of production from these pits could be the foundation of a long-term gold business as the mining and exploration process reveals the full potential of the key target areas, which have not been subject to sustained gold exploration for nearly 20 years.”
Mincor said that in parallel with this work, new exploration potential had emerged at Jeffreys Find, with studies revealing the existence of a second zone of potential gold mineralisation only 500m north of the existing deposit.
This new zone, named the Neo Prospect, contains a number of drill holes completed by Carpentaria Exploration in the 1980s, including potential ore grade intersections such as 10m at 2.11gpt and 5m at 2.39gpt gold. These intersections remain open."

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