Specialist high grade, narrow vein underground gold company Kingsrose Mining has announced a maiden mineral resource estimate for the newly discovered Talang Santo gold prospect at the Way Linggo project in southern Sumatra’s Lampung Province.
The estimate has been classified as inferred due to the sparse level of data available, but has been included in the updated total resource estimate for Way Linggo, which is 7km south of Talang Santo.
Assays were announced from drill holes at the site in October 2011. The drilling results indicated an increasing grade at depth and revealed epithermal rock textures where potential bonanza grades may still be intersected.
The estimate reveals the prospect totals 879,000 tonnes @ 5.89 grams/tonne gold and 14.63 grams/tonne silver for a contained 166,400 ounces of gold and 413,000 ounces of silver. Six drill rigs are continuing to test the new system. This increases the total resource for Way Linggo to 1.589 million tonnes @ 7.89 grams/tonne gold and 68.66 grams/tonne silver containing 396,430 ounces of gold and almost 3.49 million ounces of silver.
Kingsrose managing director Chris Start says: “This is a great result for Kingsrose. Talang Santo is a new virgin discovery and will become a second mine for the company. To reach this point only nine months after the first drilling at the prospect is a great achievement. I am also pleased to advise that in keeping with the group's ability to develop small mines, an exploration adit has been established and the cross-cut is expected to hit the upper levels of the ore in about a week.”
He says the civils and headframe for an underlay shaft are also established and shaft sinking has commenced. Kingsrose expects the trial mining will rapidly progress to a second mining centre feeding ore to its Way Linggo plant.