bull market, those companies who intend to not only survive but
grow during the tougher economic climate have to be flexible in
their approach to project development.
“
The location of the project enhances that flexibility,”
he said.
Excelsior remains committed to defining and expanding the
resources at Kalgoorlie North, with a recent drilling campaign
completed to advance underground mining studies. Mr Hamlyn
said drilling at Zoroastrian was now targeting extensions to
mineralised structures both within and outside the existing
gold resource which is currently defined along a 1.4 kilometre
strike length.
The drilling program which concluded mid-May in 2013,
comprised of reverse circulation and diamond drilling to provide
geotechnical information and to test for down dip and plunge
extensions to the mineralisation.
Results from Zoroastrian South included 19 metres grading
4.58
g/t gold from 222 metres, including 10 metres at 8.10g/t
gold from 222 metres.
“
We are currently conducting a targeted drilling campaign
consisting of reverse circulation and diamond drilling
to extend the resource to a vertical depth of approximately
350
metres, which would enable underground mining studies
to be advanced,” Mr Hamlyn said.
The project’s Zoroastrian deposit has the potential to be
developed into a major open pit and underground mine.
With an advanced gold project located within easy reach
of existing infrastructure, including processing plants, power,
water, transport, telecommunications and labour, Excelsior
Gold is open to diverse development opportunities at lower
capital costs to get its mine into operation.
Zoroastrian pit
Excelsior has always
maintained that the
location and the quality
of its resource ounces
were more important
than the sheer quantity.
•
South Australia’s largest iron ore project
and Australia’s largest Measured + Indicated
Magnetite Resource.
•
Potential to deliver one billion tonnes of
concentrate over 30-50 year project life.
•
DFS assessing production of 20 million tpa to be
completed December 2013.
•
Port land acquired to open South Australia to
Capesize Bulk Carriers.
•
Port and rail infrastructure will enable South
Australia’s next generation of developments.
TenementOutline
MainRoad
Railway
N
100
Kilometres
Adelaide
PortLincoln
CapeHardy
PortPirie
PortAugusta
CentralEyre
IronProject
One Billion
Tonnes of
Opportunity
Iron Road Limited |
ASX Code: IRD
GPO Box 1164, Adelaide SA 5001
Tel: (08) 8214 4400
Get on board for the journey at:
www.ironroadlimited.com.au