- 3D Resources (DDD) is progressing with a strategic review for the Adelong Gold Project, with a view to near-term production
- The company is focused on scoping near term cash flow options to expedite the re-start of operations, new drilling programs and a resource upgrade
- The company is assessing exploration and extension options for known and untested resources
- 3D is also investigating off-site processing options for some Adelong ores as a low-capex option
- On a tough day for the miners, 3D Resources is trading grey at 0.3 cents per share
3D Resources (DDD) is progressing with a strategic review for the Adelong Gold Project, with a view to near-term production.
The company is focused on scoping near term cash flow options to expedite the re-start of operations, new drilling programs and a resource upgrade.
3D Resources Chairman, Ian Hastings, says things are progressing nicely at Adelong.
“We are nearing completion of a strategic review on our highly prospective 100 per cent-owned Adelong gold project,” Ian said.
“The company is fortunate to be in a position to consider multiple development options on a resource with significant potential.”
Chairman, Ian Hastings
“Our focus is on early cash flow opportunities with low capex. We expect to deliver development options over the coming weeks that will demonstrate the strength of our projects,” he added.
The resource
The company is importing all historical exploration data into modelling software to generate a 3D map of the project.
Independent experts have been engaged to provide an updated resource estimate, in particular for deposits that have not been previously assessed.
Drilling targets have already been generated for the Currrajong and Donkey Hill areas, where the resources could potentially be expanded.
A work plan has also been developed for additional drilling at the Saw Pit area.
The company is also considering further drilling at the Challenger area to investigate a potential parallel vein to the east of the main deposit.
Processing
The Adelong plant may be unsuitable for processing some of the ores from the project — given the resource includes ores from dumps which are better suited to carbon-in-leach (CIL) recovery.
3D is considering commercial options, including trucking the ores to nearby CIL processing plants.
Sampling programs show high recovery yields from CIL processes, so it may be a viable commercial option and generate some easy startup cash.
On a tough day for the miners, 3D Resources is trading grey at 0.3 cents per share as at 2:30 pm AEST.