- A reassessment of 3D Resources’ (DDD) Challenger deposits in New South Wales has uncovered higher gold grades but reduced the sites’ overall tonnage
- The reassessment was designed to factor in findings from recent drilling and assays from the deposits
- Total gold grades increased from 2.72 grams of gold per tonne (g/t) to 3.76 (g/t) across measured, indicated and inferred categories
- Tonnage within the deposits dropped from 1,017,000 tonnes to 685,000 tonnes and, in turn, gold ounces went from 89,000 to 82,000
- 3D Resources shares were up 14.3 per cent at 12:03 pm AEST to trade at 0.4 cents
A reassessment of 3D Resources’ (DDD) Challenger deposits in New South Wales has uncovered higher gold grades but reduced the sites’ overall tonnage
The reassessment was undertaken following an independent review of a resources estimate completed in 2018, which 3D said incorporated significant quantities of unmineralised and subeconomic materials.
The explorer said the latest reassessment was completed to factor in additional geological information and findings from ongoing drilling and assay results in the hope of better defining mineralisation at the deposits.
The revised resource estimate brought down tonnage within the deposits from 1,017,000 tonnes to 685,000 tonnes and, in turn, gold ounces from 89,000 to 82,000.
Total gold grades increased from 2.72 grams of gold per tonne (g/t) to 3.76g/t across measured, indicated and inferred categories.
3D Resources Managing Director Peter Mitchell said the reinterpretation better matched the style of mineralisation.
“It is evident from these new resource estimates that 93 per cent of the gold resources previously reported at the Challenger deposits are contained within much higher grade vein systems and much lower tonnages,” he explained.
“These findings have significant implications for future mine planning and development.”
3D Resources shares were up 14.3 per cent at 12:03 pm AEST to trade at 0.4 cents.