Sydney, Jan 21, 2009 AEST (ABN Newswire) - Citadel Resource Group Limited (ASX:CGG) announces the December Quarterly Report including the following highlights:
JABAL SAYID
- Resource upgrade in final review stages and will be completed in February 2009. This focused on an upgrade from inferred to indicated for the mining reserve and also to include some of the gold and silver in both the sulphide and oxide zones.
- Material reduction in Capex requirements for the Jabal Sayid project, with Capex reduced to a range of US$250-$280M.
- Scope has now been fixed at a design rate of 3.4MT pa ore supply producing 60,000 tpa Cu with a 12 year mine life
- Sub level caving and large open stopes chosen as the mining method which supports an expansion plan to 5 Mtpa
SHAYBAN
Metifex Engineers headed by Seit Meeka and Stuart Smith commenced a pre-feasibility study (PFS) on Shayban. This includes continued drilling, metallurgy and process flow sheet design.
DRILLING
- Excellent drilling results continue to be returned from the Jabal Sayid project.
-- 302m at 2.7% Cu, 0.17g/t Au, 10.5g/t Ag (BDH4016)
-- 289m at 1.9% Cu, 0.43g/t Au, 21.5g/t Ag (BDH2024)
- Infill drilling at Lode 2 (Jabal Sayid) significantly extends the copper and gold mineralisation outside of the current reported resource envelope.
-- 98m at 2.4%Cu, 0.47g/t Au, 28.0g/t Ag (BDH2036)
-- 68.3m at 3.3% Cu, 0.41g/t Au, 15.5g/t Ag (BDH2030)
- Drilling at Shayban returned outstanding results significantly upgrading the project. Results included:
-- 41m at 22.8g/t Au incl 16m at 50.7g/t Au (SH052RC)
-- 28 m at 14.2g/t Au (SH049RC)
-- 35m at 6.1g/t Au and 19m at 10.7 g/t Au (SH043RC)
-- 31m at 6.9 g/t Au incl 16m at 10.1 g/t Au (SH048RC)
-- 42m at 4.6 g/t Au incl 9m at 12.7 g/t Au (SH051RC)
-- 76m at 2.2 g/t Au (SH044RC)
Contact
Citadel Resource Group Limited
Ines Scotland (CEO)
TEL: +61-400-039-664
ines.scotland@citadelrg.com.au
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