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Significant Results From Alacer's Australian Exploration Programs

Higginsville Exploration

Higginsville's exploration investment in 2013 of $16 million is targeting discoveries that will extend the currently planned gold production of more than 150,000 ounces per annum beyond 2016. Drilling during 2013 is planned to test three main areas:

  • Challenge area - testing several recently defined mineralized structures;
  • Higginsville Line of Lode area - testing targets generated by the framework drilling program; and
  • Chalice area - testing the down-plunge continuity of the Chalice orebodies as well as the potential for satellite ore deposits near the Chalice mine.

To view "Figure 3: Location of early drilling in 2013 at Higginsville is indicated by the stars" please click http://files.newswire.ca/986/Figure3.pdf

Challenge

The Challenge region has produced over 260,000 ounces of gold and lies approximately 10km southeast of the Higginsville processing plant.  The bedrock source of the Challenge paleaochannel gold has not been discovered, yet is interpreted to lie in close proximity.  Drilling in 2012 defined supergene and bedrock anomalies in the Challenge area near the paleaochannel that require follow-up drill testing for primary bedrock mineralization.

Exploration results from the northwestern margin of Challenge area have confirmed the presence of several large +1km long mineralized north-south structures.  As shown in Figure 4 below, several high-grade bedrock intersections have been recorded on these structures at the Jupiter Prospect:

  • 2m at 234g/t gold from 90m in JUPR037;
  • 2m at 39.2g/t gold from 64m in JUPR025;
  • 17m at 4.2g/t gold from 54m in JUPR031;
  • 7m at 4.7g/t gold from 70m in JUPR030; and
  • 2m at 9.0g/t gold from 65m in JUPR038.

To view "Figure 4: Long Section of the Jupiter Prospect at the Challenge Project, Higginsville. Estimate true widths are 60-70% of downhole widths" please click http://files.newswire.ca/986/Figure4.pdf   Exploration in 2013 will continue to delineate the extent of this newly defined high-grade mineralization along its +1km length, test recently identified parallel mineralized structures to the east and west, and follow up on other high priority anomalies in the Challenge area.

Eundynie

Eundynie is a historical mining centre located 15km east of the Higginsville processing plant with mine workings dating from the early 1900s to 1950s.  Drill testing of these workings commenced in the latter half of 2012 and is continuing in early 2013.  Initial drill testing of the Hidden Secret workings has confirmed strong, shallow, high-grade mineralization with results including:

  • 5m at 10.0g/t gold from 52m in HDSR0023;
  • 5m at 7.7g/t gold from 60m in HDSR0022;
  • 7m at 5.8g/t gold from 32m in HDSR0009;
  • 5m at 4.2g/t gold from 43m in HDSR0021; and
  • 7m at 4.5g/t gold from 39m in HDSR0005.




Stock quotes in this article: ASR 

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