Saracen Mineral Holdings Limited (ASX: SAR) – $0.460

05 May 2015

Saracen Mineral Holdings Limited (ASX: SAR) has received assay results from drilling at the Hangingwall, Resurrection and A1 Lodes located at the Karari Gold Project located northeast of Kalgoorlie in Western Australia (Figure 1).

 

SAR Karari Au

Figure 1. Location of Karari Gold Project

 

 

Significant intercepts include:

 

A1 Lode

  • 21.0 metres at 7.0g/t gold from 64.1 metres
  • 21.0 metres at 4.1g/t gold from 111.0 metres
  • 14.0 metres at 8.9g/t gold from 150.0 metres

 

Resurrection Lode

  • 10.8 metres at 6.5g/t gold from 96.6 metres
  • 8.1 metres at 8.1g/t gold from 92.9 metres

 

Hangingwall Lode

  • 12.0 metres at 5.9g/t gold from 57.3 metres
  • 8.0 metres at 5.2g/t gold from 66.0 metres

 

 

A 28,000 metre, two drill rig exploration program commenced at Karari in February 2015.

 

The A1 Lode is a new high grade discovery resembling a linking structure between the Resurrection and Hangingwall Lodes.

 

The Resurrection Lode is delivering results in line with the company’s expectations based on projected grade control data from the previously mined open pit immediately above the lode.

 

Although there are limited results to date from the Hangingwall Lode, grades have been higher than the company anticipated.

 

 

For further information, visit www.saracen.com.au

 

 

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