Latest news with #Study1
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Star starts drilling blitz to fast-track gold mining near Meekathara
Star Minerals has fired up the drill rigs at its flagship Tumblegum South gold project, 40-kilometres south of Meekatharra in Western Australia, as it looks to prove up the asset's near-term production potential. The 3000-metre reverse circulation (RC) drilling program, which kicked off this week, aims to bolster the project's already compelling economics by upgrading the gold gaps and chasing high-grade gold lodes to extend the project's mine life. The targeted program follows a detailed structural review at Tumblegum that lit up potential repeat gold targets northwest of the existing resource. The company says that by tightening drill spacing in the shallow inferred resources within a recent scoping study's optimised pit shell, Star is looking to convert its gold into a higher confidence indicated category, paving the way for near-term mining. About a third of the planned drilling will test for parallel high-grade gold repetitions, with recent geological modelling and aeromagnetic data pointing to zones of maximum curvature in duplex structures as prime spots for gold mineralisation. 'The company's updated Scoping Study 1 demonstrated the value and viability of the Tumblegum South gold project over a broad range of gold prices.' Star Minerals managing director Ashley Jones Star Minerals managing director Ashley Jones said: 'Star Minerals is now taking the next steps to monetise this asset by further drilling and completing the mining approvals process.' The open-pittable Tumblegum South resource currently stands at 616,000 tonnes grading 2.28 grams per tonne (g/t) for 45,000 ounces of gold, with a high-grade core of 337,000t at 2.52 g/t for 27,000 ounces in the indicated category. Last year's updated scoping study outlined a compelling case for an 18-month mining campaign at the deposit to produce a respectable 11,800 ounces to 15,900 ounces of gold via a toll treating scenario. The scoping study projected the deposit would spit out $9.4 million to $19.6 million in profit at gold prices of $3000 to $3800 per ounce.
The Age
2 days ago
- Business
- The Age
Star starts drilling blitz to fast-track gold mining near Meekathara
Star Minerals has fired up the drill rigs at its flagship Tumblegum South gold project, 40-kilometres south of Meekatharra in Western Australia, as it looks to prove up the asset's near-term production potential. The 3000-metre reverse circulation (RC) drilling program, which kicked off this week, aims to bolster the project's already compelling economics by upgrading the gold gaps and chasing high-grade gold lodes to extend the project's mine life. The targeted program follows a detailed structural review at Tumblegum that lit up potential repeat gold targets northwest of the existing resource. The company says that by tightening drill spacing in the shallow inferred resources within a recent scoping study's optimised pit shell, Star is looking to convert its gold into a higher confidence indicated category, paving the way for near-term mining. About a third of the planned drilling will test for parallel high-grade gold repetitions, with recent geological modelling and aeromagnetic data pointing to zones of maximum curvature in duplex structures as prime spots for gold mineralisation. 'The company's updated Scoping Study 1 demonstrated the value and viability of the Tumblegum South gold project over a broad range of gold prices.' Star Minerals managing director Ashley Jones Star Minerals managing director Ashley Jones said: 'Star Minerals is now taking the next steps to monetise this asset by further drilling and completing the mining approvals process.' The open-pittable Tumblegum South resource currently stands at 616,000 tonnes grading 2.28 grams per tonne (g/t) for 45,000 ounces of gold, with a high-grade core of 337,000t at 2.52 g/t for 27,000 ounces in the indicated category. Last year's updated scoping study outlined a compelling case for an 18-month mining campaign at the deposit to produce a respectable 11,800 ounces to 15,900 ounces of gold via a toll treating scenario. The scoping study projected the deposit would spit out $9.4 million to $19.6 million in profit at gold prices of $3000 to $3800 per ounce.
