Pearse
Sitting approximately 1 kilometre north of the Mineral Hill process plant, the Pearse gold prospect straddles the boundary between the Mineral Hill exploration licence (EL1999) and certain of the Mineral Hill mining leases.
The prospect was previously the subject of only limited assessment by Triako, however evaluation of the results by KBL Mining suggested that the prospect had not been sufficiently tested. During 2009, a drilling program was undertaken which resulted in the discovery of moderate to high grade gold-silver mineralisation.
Importantly, assessment of this exploration data resulted in a new interpretation of this mineralisation. Based on this interpretation, additional drilling was undertaken, which has been restricted to date to the Pearse South zone due to limited funds available. This subsequent program intersected significant high grade gold-silver mineralisation (see table below) and provided sufficient information to establish an initial Inferred resource estimate of 281,000t grading 7.3 g/t gold and 83 g/t silver. Significant intersections for all nine holes drilled by the Company at the Pearse South deposit are listed in Table 1 (in west to east order).
Pearse Resources
Pearse Reserve
Pearse North
At Pearse North (approximately 300 metres north of Pearse) a second zone has also been identified as having the potential to host similar gold and silver mineralisation. Additional drilling is required to fully investigate the merits of this prospect, however, the results to date are encouraging.
