Challenger Underground MRE Doubles to 230koz @ 3.65 g/t Au
Press Release

Challenger Underground MRE Doubles to 230koz @ 3.65 g/t Au

'Hub 1' Resources at Challenger & Tarcoola grow to total 400koz Au HIGHLIGHTS Challenger underground surprises with 230koz Au on existing mine development; significant growth potential indicated with expedited review of development options to commence Total Challenger JORC (2012) Mineral Resources Estimate (MRE) grows to 370koz Au (11.2Mt @ 1.03 g/t), incl. 246koz Au (2.17Mt @ 3.53 g/t) in existing open pit and underground areas:Challenger Main Open Pit: 13,900oz Au (0.20Mt @ 2.16 g/t Au); Challenger West Open pit: 2,400oz Au (0.01Mt @ 6.09 g/t Au); Challenger Underground (above 215mRL): 206,800oz Au (1.75Mt @ 3.68 g/t Au); and Challenger Deeps (below 90mRL): 23,000oz Au (0.21Mt @ 3.50 g/t Au). Existing Tarcoola stockpiles MRE (220Kt @ 1.23 g/t Au) upgraded to JORC 'Indicated' category Total 169koz Au open pittable 'Hub 1' Resources, including 62koz Au (1.41Mt @ 1.37 g/t) fresh mineralisation (52% Indicated) and 56koz Au (3.19Mt @ 0.54 g/t Au) in TSF1 (100% Indicated) Almost all MRE mineralisation located in, on, or adjacent to, existing serviceable open pit and underground development à opportunities for relatively low-cost access and production Includes new 'Challenger 3' Deposit confirmed along strike of Challenger ‘West' and ‘Main' pits; review indicates significant near-term growth potential for open-pittable 'baseload' mineralisation Definitive Feasibility Study (DFS) underway to evaluate capital and operating costs for potential Challenger operations restart leveraging existing, fully-permitted Central Gawler Mill (CGM)1 Read More