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Project : CRACOW GOLD PROJECT - RESOURCE

Mining
Underground - including longwall
  Estimated Project Value
$ 40,000,000
Address via
Suburb Cracow
State QLD
Council Banana Shire
Postcode 4719
Project Type Operating Mine
Development Type New
Status Commenced
Stage More Than Half Way Through But Not Yet Completed
Ownership Private
Notes
Merger Implementation Agreement Signed Further Exploration Ongoing Mining In Progress
Commence Date 4/12/2004
Completion Date 1/6/2014
Details
  • Resource estimate is 3.6 Mt @ 10 gpt with reserves being 780,000 tonnes @ 12 gpt.
  • Gold production for December Quarter 2006 was 29,000,000 tonnes @ 9.7 g/t for 8,400 ounces of Au.
  • Development expenditure of $23 million for 2006/2007 includes a decline access to the sovereign shoot and towards the Empire and Sterling zones of mineralisation; decline development of the lower portion of Crown shoot and the lifting of the tailings storage facility.
  • The recently discovered Kilkenny structure is located on the western side of this zone.
  • Recent exploration at Cracow has been focused on drilling of Kilkenny, in addition to drilling on the Sovereign, Roses Pride and Empire shoots.
  • Drilling of the Kilkenny structure defined two steeply plunging shoots of epithermal gold mineralisation.
  • Gold is hosted within a lode structure similar to the Crown and Sovereign shoots.
  • At June 2008, Newcrest calculated an Inferred Resource for Kilkenny (based on a cut off grade of 2.3 g/t gold) of 0.9 Mt at 7.1 g/t for 200,000 ounces.
  • EPMs 8726, 9103, 9528, 10413, 10414, 12605, EPMA 12212.
  • MLs 3219, 3221, 3223-4, 3227-32, 3234, 3243 & 80024.
  • KLONDYKE, ROYAL SHOOT, CROWN and ROSES PRIDE.
  • Sedimentary Holdings have been bought by Auselect (Lion Selection) who are the new developers.
  • Both developers are reviewing the option of the mine converting to an open cut operation if no new large underground shoots are discovered.
  • Catalpa resources have signed a Merger Implementation Agreement with Lion Selection which will, if all conditions are met, mean the acquisition of Lion Selections' 30% interest in Cracow.
 
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