By Oscar Nkala
Australian miner Stonewall Resources Limited has commenced reverse circulation drilling on exploration targets at the Theta Hill Gold Project in South Africa.
In a statement released on March 14, the company said contractor OMT Exploration Drilling started working this week, with diamond tailing due to be completed on up to 25 holes, and more planned.
The drilling project is meant to fulfil company plans to quantify the underground gold mineralisation reserve in preparation for the calculation of a maiden open-cut resource for the Theta Hill Project.
“A reverse circulation rig is continuing to test targets at Theta Hill, which is part of Stonewall’s broader TGME project in a world‐renowned South African gold mining region. Results from the drilling programs will be used in planning for potential open-cut resource calculations and for feasibility work this year.
“An open-cut resource estimate at Theta Hill would be the company’s second at TGME after announcing a maiden open-cut resource at the Vaalhoek deposit last week. This resource comprises 620,000 tonnes at 16.9 g/t gold for 335,000 ounces with 88% within the inferred category,” the company said.
The drilling program is due for completion at the end of April. Preliminary assay results are expected to start flowing from late March. The results will be used in planning for potential open-cut resource calculations and determine the works programme for the rest of this year.
