- Traka Resources (TKL) reports a maiden mineral resource estimate (MRE) for the Maori Queen and Sirdar deposits in Western Australia
- The combined MREs are in accordance with JORC 2012 guidelines and read 165,094 tonnes at 3.94 grams of gold per tonne (g/t) for 22,940 ounces
- Additionally, an exploration target of 130,000 to 150,000 tonnes was calculated at Maori Queen and 120,000 to 160,000 tonnes for Sirdar
- Both deposits remain open down-plunge and along strike with potential existing to grow both further
- Traka has ended the day 12.5 per cent in the green with shares trading at 1.8 cents
Traka Resources (TKL) has reported a maiden mineral resource estimate (MRE) for the Maori Queen and Sirdar deposits.
Both deposits lie within Traka’s flagship Mt Cattlin Gold Project which is situated in southwest Western Australia.
The MREs are in accordance with JORC 2012 guidelines and consists of a combined indicated and inferred resource of 165,094 tonnes at 3.94 grams of gold per tonne (g/t) for 22,940 ounces.
Additionally, an exploration target of 130,000 to 150,000 tonnes grading between 2g/t to 3g/t gold was calculated at Maori Queen.
Traka also defined an exploration target of 120,000 to 160,000 tonnes grading between 2.5g/t to 3.5g/t gold for Sirdar.
The Maori Queen resource was calculated from intersections received via reverse circulation (RC) drilling while the exploration target was calculated using other drill hole intersections as well as footwall and hanging wall lodes.
The footwall and hanging wall lodes will continue to be evaluated with the possibility of becoming more significant.
Traka used results from both RC and diamond drilling to calculate the Sirdar resource estimate.
The company picked a cut-off grade of 0.5g/t gold as it produced the most geologically realistic model.
“This is an important first step towards unlocking the potential of the Mount Cattlin Project which we believe is an exciting growth opportunity for the company in the Ravensthorpe Greenstone Belt,” Managing Director Patrick Verbeek commented.
“Importantly, both the Maori Queen and Sirdar deposits are open down-plunge and along strike, and there is excellent potential to grow both resources.”
“Also, these are just the first two of many high-grade gold exploration prospects across our tenure. We believe that there is plenty of scope to expand our high-grade gold inventory with further drilling.”
Traka has ended the day 12.5 per cent in the green with shares trading at 1.8 cents in an $8.10 million market cap.