Resources Statement (JORC 2012) based on 1g/tAu Cutoff
Challenger |
Gold |
Tonnes |
Au |
Au |
Measured |
60% |
357,000 |
4.17 |
47,900 |
Indicated |
23% |
163,000 |
3.50 |
18,300 |
Inferred |
17% |
144,000 |
3.07 |
14,100 |
Total |
100% |
664,000 |
3.77 |
80,300 |
Currajong West & Currajong East |
Gold |
Tonnes |
Au |
Au |
Measured |
- |
- |
- |
- |
Indicated |
24% |
126,000 |
2.57 |
10,400 |
Inferred |
76% |
407,000 |
2.63 |
34,400 |
Total |
100% |
533,000 |
2.62 |
44,800 |
Donkey Hill |
Gold |
Tonnes |
Au |
Au |
Measured |
- |
- |
- |
- |
Indicated |
- |
- |
- |
- |
Inferred |
100% |
103,000 |
5.03 |
16,600 |
Total |
100% |
103,000 |
5.03 |
16,600 |
Caledonian |
Gold |
Tonnes |
Au |
Au |
Measured |
- |
- |
- |
- |
Indicated |
57% |
127,000 |
3.90 |
15,900 |
Inferred |
43% |
123,000 |
3.04 |
12,100 |
Total |
100% |
250,000 |
3.48 |
28,000 |
Perkins West, Gibraltar |
Gold |
Tonnes |
Au |
Au |
Measured |
- |
- |
- |
- |
Indicated |
- |
- |
- |
- |
Inferred |
100% |
270,000 |
2.1 |
18,300 |
Total |
100% |
270,000 |
2.1 |
18,300 |
TOTAL PROJECT RESOURCES |
Gold |
Tonnes |
Au |
Au |
Measured |
20% |
357,000 |
4.17 |
47,900 |
Indicated |
23% |
416,000 |
3.33 |
44,600 |
Inferred |
58% |
1,047,000 |
2.84 |
95,500 |
Total |
100% |
1,820,000 |
3.21 |
188,000 |
Existing Resources Offer Additional Potential
Expansion through Existing Resources
Challenger Gold Deposit
- Scoping Study completed on open cut mining and some underground development to produce 447,180t @ 3.76g/t Au (54,040oz)
- Challenger JORC Resource of 664,000t @ 3.77g/t1 (80,300oz)
- 2021 Drilling confirmed down dip extension of mineralisation below the planned pit . All zones coloured yellow(+10m x gram) are potentially commercial for underground mining. A high grade component identified in hole 3D015 that intersected 5m @9.16g/t Au as well as 2m of historic workings could add a high grade shoot.
Currajong Gold Project
- Scoping Study considered open cut mining to RL 300m to generate a target production of 262,140t @ 2.27g/tAu (19,130oz)
- Currajong JORC Resources 533,000t @ 2.61g/tAu (44,800oz)
- Potential for expansion of these resources in the north as mineralisation widening as it approaches cross fault. This area poorly drilled.
Caledonian Gold Deposit
- Scoping Study assessed the open cut mine potential and generated a Target Production of 79,000t @ 5.76g/tAu (14,630oz)
- JORC Resources quoted for Caledonian 250,000t @ 3.48g/tAu (28,000oz)1
- 2022 drilling has better defined resources and identified potential for expansion of resources north and south of the area drilled but also a zone of higher grades that would warrant additional drill holes.
Donkey Hill Gold Deposit
- Inferred Resource of 103,000t @ 5.03g/tAu (16,600oz) not assessed in Scoping Study
- Requires additional drilling and evaluation to undertake underground mine planning. Mineralisation could join up with Fletchers to the South
Resource Expansion
Gibraltar deposits likely to yield next resource expansion
Note: Much of the historical 400,000oz of alluvial production came from dredging operations downstream of Target 3.
- Gibraltar poorly explored yet has a strong history of production with 140,000oz of recorded production mainly from southernmost veins (O’Brien Workings)
- Target 1 – A multiple vein system with many shafts that offers open cut potential (not drilled).
- Target 2 – Exploratory hole 3DGIB003 drilled in 2022 demonstrated multiple veins present that collectively totalled 11m of mineralisation averaging 3.4g/t Au in a zone intersected between 2m to 48m. This offers potential for shallow open cut resources.
- Target 3 – Gibraltar also offers a prime exploration target where the NE trending Gibraltar veins intersect the Wondalga Shear. This target currently lies below the Adelong Creek (20m of alluvials).
Exploration Potential
Historic production from the Adelong Goldfield more than 800,000oz
- Historical gold production required around 1oz of gold/t (31.1g/t) to be economic so many mines failed or generated low levels of production as they were unable to produce the high grade ore
- A major mineralised structure exists between Sawpit and Lady Mary that generated small levels of production
- Only the Sawpit deposit has had any drilling and this showed multiple veins and wide – low grade intercepts: this +3km vein system is a prime target for exploration
- Similar large scale structural targets exist north of Lady Clare and Gibraltar
- The improved knowledge gained from the 2022 drilling Caledonian has shown that depletion in grades occurs at surface in these low lying areas
- This potentially means that the Fletchers deposit and Northern Extension of the Victoria Line may not have been fully tested
Competent Person Statement
Information on this page is a JORC (2012) Resource Estimation published by Robin Rankin who is the Competent Person and Member of the AusIMM in respect of those Resource Estimates.
Mr Peter Mitchell has prepared the JORC (2012) Resource Estimate based on the report prepared by Robin Rankin and his own experience with the Exploration Results and geological data for this Project. Mr Peter Mitchell is a Member of the Australasian Institute of Mining and Metallurgy, the Institute of Materials, Minerals and Mining and the Canadian Institute of Mining, Metallurgy and Petroleum. He is Managing Director and paid by Adelong Gold Ltd. Peter Mitchell has sufficient experience that is relevant to the style of mineralisation and types of deposits under consideration and to the activity being undertaken to qualify as a Competent Person (CP) as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr Peter Mitchell believes that these Resource Estimates fairly represent the resources the subject of this Report.
The JORC (2012) Resource Estimates were prepared Robin Rankin. Robin Rankin is a Competent Person who is a Member (#110551) of the Australasian Institute of Mining and Metallurgy (MAusIMM) and accredited since 2000 as a Chartered Professional (CP) by the AusIMM in the Geology discipline. Robin Rankin provided this information to his Client Adelong Gold Limited as paid consulting work in his capacity as Principal Consulting Geologist and operator of independent geological consultancy GeoRes. He and GeoRes are professionally and financially independent in the general sense and specifically of their Client and of the Client’s project. This consulting was provided on a paid basis, governed by a (in this case an on-going engagement) scope of work and a fee and expenses schedule, and the results or conclusions reported were not contingent on payments. Robin Rankin has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person (CP) as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Robin Rankin consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
