re: Ann: New High Grade Target Delineated Nea...
Tis is a bit interesting
The Nicolson’s processing facility was constructed in 2002 by Fabcon Engineering (contracting to Rewah), with an annual CIP capacity of 120,000 tpa (but a milling capacity of 200,000 tpa) but only treated 55,000 t of relatively soft surficial material (albeit with a high quartz component) to May 2003.
LOL the plant is practically brand new.
Upon purchase of the property by Rewah in 2000 and construction of the 120,000 tpa processing facility, some 55,000 t of surface ore from the Wagtail, Wagtail North and Rowdies prospects was processed, realizing 5,143 ounces gold with a recovered grade of 2.65 g/t between December 2002 and May 2003. It is understood that areas for mining were selected by sampling rip lines. Anecdotal evidence is that the recovered grade was much lower than expected. It was postulated by TGM that alluvial gold was being sought at Wagtail in addition to outcropping quartz veins. During this phase of near surface mining, it was acknowledged that the controls on mineralisation were complex, prompting a re-assessment of the mining programme. A geological and structural synthesis of the Nicolson’s to Wagtail region was commissioned, along with recommendations for a drilling programme for resource definition purposes, especially at the southern prospects. There has been no mining on the property since 2003.
Hope they've got it sorted now !!!!!!!!!
BNR Price at posting:
12.9¢ Sentiment: Buy Disclosure: Held
