- 3D Resources (DDD) is commencing a strategic review of its Adelong Gold Project in New South Wales
- Through the review, the company hopes to develop a cashflow project to support further exploration at the site
- The review will examine the site’s Challenger Mine and Currajong operation to see if they can be made commercially viable
- Further, 3D hopes to upgrade the resource estimate at Adelong by reassessing the original mine plans and drilling previously unincorporated deposits
- 3D Resources shares are up 16.7 per cent today, trading for 0.4 cents per share
3D Resources (DDD) is commencing a strategic review of its Adelong Gold Project in New South Wales.
Through the review, the company hopes to develop a near-term cash-flow project to support further exploration at the site. Specifically, 3D is examining the site’s Challenger Mine and Currajong operation to see if they can be made commercially viable.
The company has put together a team under the supervision of its Managing Director and Senior Geologist, Mr Peter Mitchell, and it expects to release the team’s finding to the public soon.
3D hopes to upgrade the resource estimate at Adelong by reassessing the original plans for the Challenger mine, as well as drilling outlying deposits that have yet to be incorporated into the site’s resource estimate.
The company is currently finalising potential targets for an initial 1000-metre drill program. The program will focus on the site’s Donkey Hill deposits and, if possible, some of the program will target the Currajong prospect.
3D only acquired the property last month, assuming control of the site’s known resources, as well as an exploration license, a mining lease and 16 mineral claims.
The purchase also included 17 freehold properties on the site, a feasibility study and its accompanying data from 36,000 metres of previous drilling.
Chairman of 3D Resources, Ian Hastings is pleased the company is moving ahead at its latest acquisition.
“We believe Adelong has enormous potential and we look forward to the outcome of the strategic review shortly that will demonstrate the strength of our project,” he said.
3D Resources shares are up 16.7 per cent today, trading for 0.4 cents per share at 11:26 am AEST.