Location of Explaurum Limited Projects
Explaurum’s key asset is the 90% interest in the Tampia Gold Project, located approximately 240km east of Perth in the wheat belt of Western Australia. A 2012 JORC Inferred resource of 11.3 million tonnes at 1.91 g/t Au for 695,000 oz at a 0.5 g/t Au cut off was released by Explaurum in 2017 following significant exploration drilling.
An ongoing feasibility study is expected to be completed in Q1 2018.
Explaurum released the successful results of the Tampia Scoping Study in November 2017 which highlighted the following results:
1 C1 Costs include all mining and processing costs, site administration and refining costs2 AISC includes C1 costs and sustaining capital, royalties, site rehabilitation and head office corporate costs
The Company has identified new zones of gold mineralisation that confirm additional zones of gold mineralisation are present outside the Tampia Resource Area.
Ongoing intensive regional exploration at Tampia is expected to continue until mid 2018. This exploration is aimed at adding new resources, both from the immediate Tampia Gold resource area and regionally, where a total of 25 Gravity Anomalies have been discovered to date.
Scout drilling will commence in February 2018 at high priority targets located to the south of Tampia and at Gravity Anomaly 8, located 7km north of Tampia, where a significant new anomalous gold zone has been discovered with gold in soil calues of up to 0.81 g/t Au over a 2.5km2 area
The main aims of the ongoing regional exploration including auger sampling and RC scout drilling are:
BHP Minerals (‘BHP’) discovered gold mineralisation at Tampia in 1987 and BHP and subsequent owners in the 1990s established the following features of the Tampia mineralisation:
Only minor exploration was carried out at Tampia from the mid-1990s until Explaurum acquired an 80% (now 90%) interest in April 2012. At that time, although the Project is located within an under-explored greenstone belt, technical aspects of the deposit such as geology, structure, controls on mineralisation and metallurgy were poorly understood, but what was known regarding the mineralisation (open-pittable resource with near surface, high grade mineralisation open in all directions) was highly attractive to Explaurum.