Stonewall Resources releases Theta Hill results
Published 01-MAR-2018 11:23 A.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. FinFeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.
Stonewall Resources Limited (ASX:SWJ) has released initial drilling results from ongoing work at the Theta Hill prospect.
Theta Hill is located within the TGME Gold Project and is some 370km northeast of Johannesburg.
The company is highly encouraged by the recent assays, suggesting that high-grade oxide gold resources will be established at Theta.
Assay results extracted from flat lying gold reef (implied historical in-situ 0.3m grade is approximately 30 g/t) include:
- 1m at 11 g/t gold from 29m (RCBH55B)
- 1m at 9.2 g/t gold from 23m (RCBH51)
- 1m at 6.8 g/t gold from 43m (RCBH45)
- 1m at 10.4 g/t gold from 51m (RCBH46B)
- 1m at 9.6 g/t gold from 55m (RCBH61)
A total of 20 out of a planned 27 holes have been drilled for 918m total.
However, only seven of 20 RC holes have been drilled to completed depth due to underlying cavities.
SWJ will complete the remaining 13 holes via diamond tail drilling, which is expected to overcome inconsistent ground conditions while providing a truer indication of reef location and thickness.
However, there is still much work to do at this stage therefore investors considering this stock for their portfolio, should seek professional financial advice.
SWJ is mobilising a diamond drill rig for this purpose and expects to re-commence the above drilling on 5 March 2018.
The company added that the remaining seven RC holes will be completed within the next two weeks.
The company also confirmed that it is currently in talks with several groups with the aim of commencing production at Theta Hill.
It has engaged process engineering firms to assess the condition of the CIL plant and examine the Theta Hill site for open-cut feasibility in preparation for future scoping and feasibility work planned in 2018.
In further news concerning the TGME Gold Project, SWJ has informed shareholders that it will dewater the mine at Rietfontein.
This decision will allow greater access to the area and significantly reduce the time needed to access deeper areas of the mine, with SWJ aiming to perform a review of potential locations for underground resource drilling at the site in the near future.
SWJ managing director Rob Thomson concluded the promising update by pointing to a recent Goldman Sachs report on South Africa, “Given the encouraging developments and progress and the renewed investment interest in South African under new President Cyril Ramaphosa, we believe now is the time to ramp-up our activities to the next level orientated towards re-establishing gold production,” he said.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
