- Write by:
-
Thursday, June 18, 2020 - 7:53:26 PM
-
739 Visit
-
Print
Mining News Pro - Superior Gold has reported its best underground drill intersection so far at the Plutonic gold mine in Western Australia.
Of the 19 holes (over 1,855 metres) completed during the ongoing drill program, 17 intersections encountered more than 5 g/t Au. The best results include: 56.3 g/t Au over 15.1 metres, 10.2 g/t Au over 7.1 metres and 11.9 g/t Au over 5.3 metres.
“The intersection of 56.3 g/t Au over 15.1 metres is our most significant intersection to date since we acquired the Plutonic gold operations,” CEO Chris Bradbrook said in a media release.
He added that these results illustrate the potential to extend the life of mine “well beyond the initial five years.”
The Plutonic gold operation is considered one of the largest gold mines in Western Australia in terms of cumulative production. Open-pit mining began in 1990 and ended in 2005, while underground production has been ongoing since 1995.
Shares of Superior Gold jumped 17.4% by midday Wednesday. The Toronto-based gold junior has a market capitalization of C$78.5 million.
Short Link:
https://www.miningnews.ir/En/News/549956
![China’s central bank paused gold purchases in May after 18 months of buying](/Incsys/Photo.aspx?image=/Uploads/News/20240615005941412.jpg&width=236&height=180)
China’s central bank paused gold purchases to its reserves in May, when spot gold prices hit a record high, after 18 ...
![Gold price falls most in two years on jobs data, China buying pause](/Incsys/Photo.aspx?image=/Uploads/News/20240615003613938.jpeg&width=236&height=180)
Gold fell the most in more than two years as surprise strength in a key US jobs report dashed hopes that the Federal ...
![Global gold ETFs saw first inflows in a year in May, says WGC](/Incsys/Photo.aspx?image=/Uploads/News/20240615001925985.jpg&width=236&height=180)
Global physically backed gold exchange traded funds (ETFs) attracted their first inflows in May after a year, powered by ...
![Opening of new mines boosts Ivory Coast 2023 gold output](/Incsys/Photo.aspx?image=/Uploads/News/20240615001311063.jpg&width=236&height=180)
Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow ...
![Glencore said to weigh selling stake in Kazakh miner Kazzinc](/Incsys/Photo.aspx?image=/Uploads/News/20240611205715107.jpg&width=236&height=180)
Glencore Plc is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in ...
![Mali gold mining revenue fell by 26% in 2023](/Incsys/Photo.aspx?image=/Uploads/News/20240611204851913.jpg&width=236&height=180)
State revenue from gold mining companies in Mali fell 26% last year, hit by lower taxes, a document from the west ...
![Gold purchases by central banks were strong in April despite high prices](/Incsys/Photo.aspx?image=/Uploads/News/20240610020735558.jpg&width=236&height=180)
Net purchases of gold by global central banks rose to 33 metric tons in April from a revised net buying of 3 tons in ...
![Probe Gold to raise $11 million for Quebec exploration](/Incsys/Photo.aspx?image=/Uploads/News/20240606201728757.jpg&width=236&height=180)
Probe Gold is looking to raise more than C$15 million ($11 million) via a private placement led by Beacon Securities and ...
![Funds are most bullish on gold in four years as prices hit record](/Incsys/Photo.aspx?image=/Uploads/News/20240528184631198.jpeg&width=236&height=180)
Money managers became the most bullish on gold in more than four years as prices surged to a fresh record earlier this ...
No comments have been posted yet ...