- 3D Resources (DDD) has completed its maiden drill program at the Adelong Goldfield Projects in New South Wales, as part of an ongoing strategic review
- The program focused on the site’s Donkey Hill and Currajong zones, with assays results expected in early October
- The aim of the ongoing review is to generate near-term cash-flow by accelerating the site back to production
- Early last month the company successfully upgraded the project’s gold estimate by 42 per cent to 180,600 ounces
- Using funds raised from a recent share placement, the company is now planning accelerated drill programs for the site’s Caledonian and Challenger zones
- 3D Resources closed 14.29 per cent in the green for eight cents per share
3D Resources (DDD) has completed its maiden drill program at the Adelong Goldfield Projects in New South Wales, as part of an ongoing strategic review.
The drill program focused on the Donkey Hill and Currajong zones to further outline the extent of mineralisation surrounding the site’s historic exploration. Assays results are currently pending and are expected in early October
Early last month, the company successfully upgraded the project’s gold estimate by 42 per cent to 180,600 ounces, after only purchasing the property in late May.
Using funds raised from a recent share placement, the company has now planned accelerated drilling programs for the Caledonian and Challenger zones. Possible future drilling at the site could also centre around the Sawpit zone and return back to the Donkey Hill and Currajong zones towards the end of this year.
The aim of the ongoing review is to generate near-term cash-flow by accelerating the site back to production, with the main focus beginning at the project’s Challenger Mine and Currajong operation.
Toward this end, consultants have been appointed to review the site’s existing plant and have so far prepared a preliminary plan and sent 1,000 kilograms of metallurgical samples for testing.
The rest of the plant review is expected to complete in the next two months and result in a final operational design.
Taking the recently expanded mineral resource into account, the plant’s current capacity would result in a 15-year mine life. The current review hopes to more than double the plant’s capacity and, therefore, improve the site’s short-term logistics.
3D Resources closed 14.29 per cent in the green for eight cents per share.