3D Resources Limited has been granted a six year extension to its exploration licence EL5728 which now sets the stage for a concerted effort to expand exploration activities and resources at Adelong.
3D Resources Managing Director Peter Mitchell said the company has spent much of its time since acquiring the Adelong gold project understanding the Adelong geology and economic potential.
“These steps have led the company to conclude that not only is reopening the mine viable, but substantial further resource opportunity exists within the project and the region. We are now progressing to begin the next steps to take advantage of that opportunity.
“A further modest drill program is planned for later in 2022 which aims to follow up the new discovery made at Gibraltar in the April 2022 drilling program.”
Much of the historical drilling and exploration at Adelong has focused on the main mines covered by the company’s mining tenement (ML1435), which generated JORC Resources for the Challenger and Currajong deposits.
Following its acquisition of the Adelong gold project, 3D Resources focused its efforts on two of the other deposits outside of ML1435 (Donkey Hill and Currajong) and thereby increased the project’s JORC Resources from 129,000oz to 171,400oz and identified the necessary steps to reopen the existing mine.
Importantly, there is also significant exploration potential within EL5728 both in terms of extensions to known deposits but also major structures that have historically remained untested or undrilled. As the company nears completion of its initial planning phase to reopen the existing mine it has now turned its attention to the project’s exploration upside, which is substantial. Obtaining an extension to EL5728 was an essential component of that plan that has been achieved.
The recent drilling at Adelong at Caledonian and Gibraltar has highlighted the importance of the exploration potential of EL5728 as the high grade intercepts of drill holes at Caledonian (CAL009 and CAL012) and the new discovery at Gibraltar identified in drill hole (3DGIB003) are all located in this exploration licence.
