3D Resources Limited (ASX:DDD) has reported a 42% upgrade of gold in Resources to 180,600 ounces at the Adelong Goldfield in NSW.
Chairman, Ian Hastings, said the upgrade includes a maiden Resource for the Caledonian and Donkey Hill deposits, and a remodelling of Resources at the Currajong deposit with the inclusion of a resource of parallel vein systems to the east.
This maiden resource upgrade for the Adelong Goldfield Project is a clear sign of the exploration potential that the company believes it can unlock,” Mr Hastings said.
“We are only scratching the surface and I look forward to quickly progressing further exploration activities.”
Mr Hastings said work on this latest Resource estimation has added considerably to the knowledge about these areas as it is the first time these past drill intersections have been modelled to define the zones of mineralisation.
“What this work has also shown is that the resources are largely open at depth and in most cases along strike giving considerable opportunity to expand and upgrade these resources.”
Mr Hastings said it is evident from the work done so far that the resource potential of the Adelong Goldfield Project is considerably more than previous Resource Estimates had shown.
The addition of maiden Resources for Donkey Hill, Caledonian and the Currajong area has generated a 42% improvement in the total gold resources, but also highlighted possible extensions to those mineralised zones that have not yet been drilled.
In addition to those deposits brought to account by this work, there are a number of areas that warrant further work to bring the existing drilling to a standard that would allow additional resource estimations to be undertaken.
“One of the major added benefits of undertaking this program of resource assessment, has been that for the first time there is now a detailed 3D model generated for these three deposits so that it is possible to better define targets for future drilling. Historical drilling at Adelong had largely focused on drilling around the old mines without any real targeting tool to assist in planning drill holes or interpreting the results.
“While it is early days, the company expects to apply a similar approach to some of the other deposits that have already been drilled, including an initial resource assessment for the Gibraltar Mine deposits, Sawpit, and the Victoria Line.
“This work has clearly demonstrated some of the untapped exploration potential that the Adelong Goldfield offers, and with additional site work there is an immediate opportunity for further and additional resource upgrades.
“The company has identified that there are other deposits that have not previously been drilled, including historic workings for over 2km north of Sawpit, and a deposit in the northern end of the field ‘Paylees’ that can be traced for over 600m.”
