EXPLORATION BY PANORAMIC
The Company’s initial strategy for the Project is to build up a resource and reserve profile and develop a mine plan which will support the re-commissioning of the existing Project’s processing plant. With the acquisition of Wilsons Gold Project and resource upgrades, the Gum Creek Gold Project tenements now contain a combined ~1.3M ounces of gold in Resource. The Wilsons tenement is located on a granted mining lease within trucking distance of the existing Gum Creek Gold processing facility and is continguous with Panoramic’s 100% owned Gum Creek Gold tenements.
The Company has implemented two concurrent exploration strategies, the first focusing on Resource Definition drilling to expand existing resources and the second on targeting Regional Greenfields discoveries.
The Regional Greenfields Program started in July 2011 with a 20,000 metre drill program to collect data to advance alteration analysis. Multi-element lithogeochemistry and hyperspectral data collected from this program helped to identify and characterise gold mineralising alteration systems around the known deposits which can be applied to the discovery of new deposits elsewhere in the belt. The program is targeting a multi-million ounce discovery.
A key opportunity at the Project is that both the historical and regional mining areas are under drilled. Less than 3% of all holes are drilled to a depth over 150 metres. There are a total of 210 exploration targets across the project, and as itemised below, there are multiple high grade targets around historical pits and underground operations.
COMPANY PROFILE
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