The Jeffreys Find prospect lies within mining lease M63/242 and is located 40 km northeast of Norseman. The deposit displays a number of positive attributes, including being confined to a discrete, shallowly southwest dipping grunerite-magnetite BIF unit with mineralisation thickest and best developed near surface, and open at depth.
Mincor initially estimated a maiden Inferred Resource of 1,108,700 tonnes @ 1.7 g/t for 59,730 ounces of gold; this was subsequently updated once quality assurance/quality control information was compiled, to combined Indicated and Inferred Resource of 1,155,100 tonnes @ 1.7 g/t gold for 61,560 ounces of gold. The ore body outcrops at surface and has a mineralised strike length of 450 metres and is currently drill tested to 115 metres below surface.
Whittle pit optimisations based on toll treating were completed at a range of gold prices. The A$1,450/ounce shell was selected for pit and waste dump design purposes. No Reserve is quoted as yet, pending validation of some of the scoping level inputs.
Jeffreys Find resource over magnetics