Sydney, Jan 27, 2009 AEST (ABN Newswire) - Citadel Resource Group Limited (ASX:CGG) is pleased to announce that it has started underground diamond drilling from the decline at Jabal Sayid.
Swick Mining Services have 2 of their specialised diamond drilling rigs on site at Jabal Sayid. With the decline now accessible and with services in place, Swick has moved both diamond rigs underground. The first hole of the underground programme was started last week (21st January 2009). Drilling from the decline is a significant advantage to Citadel, as it allows for optimal placing of drill collars and the holes are at least 300m shorter than if drilled from surface.
In conjunction with this DFS infill drilling program Citadel has programmed 5 deep holes designed to extend the known mineralisation in Lode 4 at least 300m below the base of the current resource. The Lode 4 resource currently extends over 500m vertically to 700m below surface and remains open at depth. The underground rigs have a depth capacity of 1200m and with the drill holes collared in excess of 300m below surface Citadel now has the capability to drill up to 1500m sub surface.
Citadel is aggressively moving the Jabal Sayid project forward:
- Completing a DFS on the Jabal Sayid copper and gold project
- Refurbishment of the existing decline is complete
- 3 diamond drill rigs are working on surface and 2 underground diamond drill rigs are now operational. These rigs are programmed to complete in-fill resource drilling and extension drilling during the next few months
- Total mineral resources at Jabal Sayid of 76Mt, including 54 Mt at 1.6% Cu (Stockwork Cu) 4 Mt at 1.9% Cu & 1.3% Zn (Massive Sulphide Cu/Zn) and 18 Mt at 2.1% Zn & 0.4% Cu (Massive Sulphide Zn).
- A revised resource estimate is being finalised and will be announced to the market shortly.
- Citadel is well funded, with ~$20M on hand and no debt facilities.
Contact
Citadel Resource Group Limited
Ines Scotland (CEO)
TEL: +61-400-039-664
ines.scotland@citadelrg.com.au
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