Lichkvaz open pit potential confirmed

28 April 2008 | 03:23 Code : 17247 Geoscience events
Exploration and drilling at Tamaya Resources’ Lichkvaz Gold project (Tamaya: 86.21%)...

  Exploration and drilling at Tamaya Resources’ Lichkvaz Gold project (Tamaya: 86.21%) has discovered mineralisation close to surface, which is supported by trenching and sampling of ore exposures.This previously undetected mineralisation has the potential to add to the project’s Inferred Resource of 3 million tonnes at 7 g/t Au, 31.5 g/t Ag, and 0.5% Cu.The new development confirms the potential for a small open pit operation to supplement underground mining activities.In addition to the near surface discovery, Tamaya has reported that good grades are being recorded in the veins at depth.A reverse circulation drilling campaign from surface, covering a 25m by 25m grid pattern, is underway at site, with the objective of testing extensions to surface of the three main vein systems.While the known mineralisation to date and all Inferred resources lie at or below the 16 level adits, the identification of gold veins closer to surface, offers the potential for an increase in resources, and an open cut mining section. Underground drilling from levels 16, 19, and 22 at Lichkvaz, supported by a disciplined channel sampling program, will commence by mid-year. Tamaya expects this program to add significantly to the understanding and certainty over the resources at this project.

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