RE: Flippers ahoy...there's gotta be a placing RNS imminent23 Feb 2022 10:13
AND
A modest, net positive cash flow, ranging from AUD $6.8m to AUD $19.4m (GBP £3.7m to GBP £10.7m), results from a small- scale, open pit mine. The range of anticipated cash flows depends on technical and operational variables. Multiple targets within the proposed pit outlines are yet to be drilled and the study identified numerous opportunities to increase gold ounces with additional shallow drilling.
Only the top 70 m was included in the study, yet gold up to 16.9 g/t Au has been intersected more than 400 m below surface.
Page 1 of 6
There is therefore significant potential to increase the economic outlook of the project based on continued exploration success at depth. The study assumed utilisation of one of the nearby existing processing facilities, of which there are several within commercial trucking distances of Plateau. Average mined grades range between 1.26 g/t Au and 1.94 g/t Au from within the optimised pit outlines. The range of anticipated cashflow depends on technical and operational variables. Several excellent targets within 250 m of Plateau were identified for future drilling to explore for additional near-surface gold ounces.
At the end of March 2021, the results from 34 rock chip samples were announced, collected from several high priority target areas surrounding Plateau. Rock chip sampling at the "Northwest Breccia" at Plateau returned high grade results up to 16.8 g/t Au and 50.4 g/t Ag, whilst rock sampling at the "Northern Breccia" returned results up to 1.89 g/t Au and 24.2 g/t Ag.