Exploration at Higginsville during 2013 is testing the many high-quality targets generated by last year's Higginsville Line of Lode Framework program and by the extensive anomaly generation program completed across the Higginsville tenure. Our belief in the exploration potential of this field is being confirmed by high-grade results from recent drilling."
Key recent assay results at South Kalgoorlie include:
- Location 48 - High-grade gold mineralization has been discovered close to the surface over a two square kilometer area at the Wedge Prospect. Results include:
- 4m at 14.6g/t gold from 20m in WGA228;
- 7m at 4.9g/t gold from 27m in WAC261;
- 4m at 5.9g/t gold from 16m in WGA133; and
- 4m at 5.6g/t gold from 4m in WGA142.
- SBS28 Complex - Two deep wide-spaced step-out drill holes have each intersected high-grade mineralization over 200m below historical underground workings at Barbara and Surprise. Results include:
- 4.25m at 7.7g/t gold from 558.0m in BU210W1 at Barbara, and
- 2.1m at 9.1g/t gold from 386.5m in SD083 at Surprise.
Key recent assay results at Higginsville include:
- Drilling of recently identified structures at the Challenge and Eundynie Prospects has intersected shallow high-grade gold mineralization, including:
- 2m at 234g/t gold from 90m in JUPR037;
- 2m at 39.2g/t gold from 64m in JUPR025;
- 5m at 10.0g/t gold from 52m in HDSR0023;
- 5m at 7.7g/t gold from 60m in HDSR0022; and
- 7m at 5.8g/t gold from 32m in HDSR0009.
- A diamond drill hole (VIND103) testing the Higginsville Line of Lode has intersected several zones of high-grade gold mineralization over a distance of 450m down hole at the Vine Prospect, including:
- 3.55m at 6.7g/t gold from 390.2m;
- 3.55m at 5.9g/t gold from 453.45m;
- 0.65m at 43.6g/t gold from 622.35m; and
- 2.0m at 8.9g/t gold from 855.0m.
To view the complete drill hole and assay results relating to this announcement, please visit the following link: http://www.alacergold.com/files/2013_03_26_exploration_update_supporting_information_3.pdf or visit Alacer's website at: www.AlacerGold.com.South Kalgoorlie Exploration South Kalgoorlie is one of the most prospective areas for gold exploration and discovery in Australia, as it is located centrally within a +100 million ounce gold belt defined by Kalgoorlie's Golden Mile at the northern end and the world-class St. Ives goldfield at the southern end. The geology from Kalgoorlie through South Kalgoorlie and to St. Ives is essentially the same stratigraphic succession, and the Boulder-Lefroy Fault, which is the principal controlling feature of gold mineralization in the area, transects the entire package from Kalgoorlie to St Ives. Continuous exploration has seen material resource and reserve growth at both the Golden Mile and St. Ives over recent years; however exploration at South Kalgoorlie has been largely neglected due to splintered historical ownership prior to Alacer. In late 2012, Alacer began drilling high-potential conceptual targets identified by an in-depth 'first principles' targeting exercise based on the extensive exploration data for the South Kalgoorlie tenements. The 2013 exploration budget is $20 million and the 2013 exploration results should clarify the strategic options available for the South Kalgoorlie Operations. Three key areas with the highest probability of delivering a large gold discovery have been identified: Location 48, the Mt. Marion Complex, and the SBS28 Complex.