Resources and Energy Group Limited (ASX:REZ) have provided an update on the East Menzies Gold Project (EMGP).
- REZ has completed a target evaluation over the Central West part of the EMGP
- Opportunities for small scale open cut development have been identified
- Additional drilling planned to firm up resources available for development
- Targets are within granted MLs and supported by existing drilling results
Overview
Resources and Energy Group Limited (ASX: REZ) provide an update on the East Menzies Gold Project (EMGP). Scoping and pit optimisation studies to investigate opportunities for renewed mining operations have commenced. The study will focus on three contiguous mining leases, M29/189, Granny Venn, M29/141 Goodenough, and M29/427 Maranoa, refer Figure 1. These mining leases have been the subject of previous exploration including open cut and underground mine development. Investigations will be specifically directed at the potential of these mining instruments to support small scale mine development options with emphasis on utilizing existing facilities, approvals and 3rd party mining and processing contractors. This strategy offers potential for cash generation to support ongoing exploration in the broader EMGP tenement package. Exploration Targets for all three ML’s have been identified, refer Table 1, and will be the subject of further study to identify what other work, including drilling would be required to convert the existing targets to JORC 2012 resource standard.
Table 1 Exploration Targets
These quantity and grade estimates are conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.
