Yes, there is gold there and maybe more to be uncovered. Old records no doubt are very relevant.
From memory, gold operations ceased with no profitability.
Pit optimisation studies at Widgiemooltha, indicated profitability at A$1200/ounce.
From latest announcement:
"The new phase of drilling is scheduled to start in October 2016, subject to government approvals, and will focus on extending the known gold resources – in contrast to the feasibility program, which was primarily, and successfully, aimed at confirming and infilling the existing resources.
However the feasibility drilling also discovered a number of new high-potential target areas, and it is these targets that will be tested in the upcoming drill program. The targets to be drilled include the newly interpreted high-value shoots at Bass, the potential northern extension at West Oliver, the new sub-parallel trends at Hronsky, and the potential southern extension to the main Flinders Central trend."
Lots more good news to come this Quarter.
Cheers and GLTA
Mulac1
MCR Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
