Quarterly Activities Report and Appendix 5B December 31, 2021
Resources & Energy Group Limited (ASX:REZ or the Company) are pleased to provide its Quarterly Activities Report and Appendix 5B Cash Flow Report for the period ending December 31, 2021.
East Menzies Gold Project (EMGP) West Australia
Gigante Grande Prospect
During the report period, exploration planning, including interpretation of Geophysics and resource modelling has continued with work focussed on developing a program of drilling for first quarter 2022. As part of this process the company has identified a number of drill targets in the northern part of the prospect area. To facilitate these exploration activities the Company will be carrying out clearance surveys in late February 2022.
Figure 1 Borehole Location Plan Showing Significant Intervals of Gold Mineralisation.
Granny Venn Cut Back
During the quarterly period, Mining Operations at Granny Venn continued, and have advanced to the 375m level within the Eastern Cutback, refer Plate 1. Approximately 50kt of ore was processed at the Lakewood gold mill which generated 3264oz of fine gold poured. As at the end of the quarterly period ROM stocks of approximately 15kt of LG and HG ore are on site, with preparations underway for Toll 3 in the new year, Plate 2. Mining operations shut down for the Christmas break and will resume in early January 2022.
Springfield Prospect
The Springfield area was identified by the Company following a review of historical exploration and gold mining activities. The documented occurrences of sulphides north of Springfield at Cepline, are prospective features for the occurrence of volcanogenic nickel and base metal deposits as well.
During the Quarterly period the Company received results from 193 RC samples which were selected for Multi Element analysis by ICP MS and Platinum Group analysis by Fire assay. This work confirmed a number of highly anomalous metal values, refer figure 2. This included the following peak down the hole assays (1):
- SFRC01‐1m @1.78% Ni, 0.21% Cr, 5% S (2), 269ppm Mo and 245ppm Cu from 98m.
- SFRC04‐1m @ 5 % Ni, 0.19% Cr, 4.4% S, from 88m
- SFRC05‐2m @ 02% Ni, 0.6% Cr, 0.4% Zn, from 29m and 2m @ 1.1 % Ni, 1% Cr (3), 0.49% S, 0.45% Zn, 0.07% Co from 36m, included within 9m @ 0.8 % Ni, 0.62% Cr, 0.31% Zn from 29m
Figure 2 East Menzies Gold Project Springfield Prospect and Borehole ‐Location Plan.
Maranoa Prospect
In late December 2021 the Company completed four RC holes at Maranoa, which is located on the west side of the East Menzies Tenement package, approximately 2.5km south of Granny Venn (M29/189), refer figure 2. These holes were drilled opportunistically, to take advantage of equipment and resources which were still on site after completion of the Springfield drilling program in late December.
Maranoa is a granted Mining License (M29/427) and is being investigated as part of the Company’s strategy to identify and commercialise near term and low capital cost mine development opportunities along the western side of the East Menzies project area.
Read the full announcement here.
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