Cargo Resource Estimate

280,000 ounces of gold in near-surface Inferred Resource at Cargo, NSW.

HIGHLIGHTS

  • 10 million tonnes at 0.84g/t gold.
  • Surface to 180 metres
  • Metallurgical recoveries average 82%
  • Additional conceptual Exploration Target

A new Inferred Resource has been defined by Golden Cross Resources (GCR) at its 100%-owned Cargo Gold Project near Orange in New South Wales. The bulk of the resource lies between surface and 75 metres depth over a 400 metre strike length but has been estimated to a depth of 180 metres. The quartz-sulphide veins are open at depth. The size and nature of the resource has encouraged GCR to initiate mining scoping studies.

Initial metallurgical testing of drill chips has yielded recoveries of up to 94% with an average of 82%. Drill core from the recent program will be used for comminution and further gravity, flotation and leach studies.

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