Terrain Minerals Limited (ASX:TMX)
At Wonder North, the preliminary open pit design contains:
Measured Resource: 350,400t @ 2.16g/t gold Indicated Resource: 342,000t @ 2.77g/t gold Inferred Resource: 4,600t @ 3.72g/t gold
TOTAL: 697,200t @ 2.45g/t gold with 55,326 recoverable oz of gold. At A$1200 per oz the pit design indicates an operating, undiscounted cash surplus in excess of A$10.0m.
At Coogee, the preliminary open pit design contains 102,000t @ 3.82g/t gold, with 11,600 recoverable oz of gold. At A$1200 per oz the pit design indicates an operating, undiscounted cash surplus in excess of A$4.0m.
Further mining and operational studies are in progress to finalise the pit designs, determine capex requirements and acquire statutory mining approvals.
The two pit designs together with the previously announced open pit mining proposal at the Celtic gold deposit, Bundarra (ASX release 12/06/09) indicate a potential open pit mine production in excess of 83,000 oz of gold. A further open pit mine study is in progess over the Great Western deposit at Bundarra.
About Terrain Minerals Limited
Terrain Minerals Limited is engaged in the exploration of gold and other mineral resources. It holds four projects: Bundarra, East Kambalda, Redcastle and Euro. Bundarra is located 70 kilometers north of Leonora. A combined RC and Diamond Drilling program totaling more than 16,000 meters was completed in April 2008. The Bundarra (Celtic) Project, which is 100% owned by Terrain, includes the Black Cat joint venture, and the Great Western prospect. The project area covers 100 square kilometers and encompasses all the major gold prospects in the Bundarra area. The Redcastle Project covers an area of gold workings, with a recorded historical production of 3,000 tons. The Euro project lies immediately to the West of the Euro Mining Centre. The East Kambalda project lies 10 kilometer northeast of Kambalda. The project area covers three north-westerly trending belts of volcanics separated by sediments. Arocom Pty Ltd is the Company’s wholly owned subsidiary.
Terrain Minerals Limited