Highlights
- Leachwell bottle roll analysis of 23 samples from the 2023 Reverse Circulation (RC) drilling programme on the K1A mineralisation target at the
Kalaka Project confirm the fire assay2 results - The samples were from holes three holes, KRC_23_005, KRC_23_006 and KRC_23_007, holes where the previously delineated mineralised intersections included:
- 76 metres at 0.53 g/t Au (includes 10 metres at 1.16 g/t Au) in hole KRC_23_005
- 34 metres at 0.50 g/t Au in hole KRC_23_006
- 85 metres at 0.52 g/t Au (includes 12 metres at 1.62g/t Au to end of the hole) in hole KRC_23_007
- The bottle roll tests provide a preliminary indication of excellent leachability by conventional processing. Oxide recoveries averaged 87% recovery and unoxidized sulphide bearing samples averaged 89% recovery.
- Results are an essential milestone to advance the K1A target area as a potential bulk volume, low grade gold development project.
CEO
At the
The project is located in southeast
Leachwell Test work Results for Kalaka
Leachwell analysis was completed on 23 samples from three of the RC drilled holes completed in 2023 at the K1A Prospect. As reported previously on
The test work indicated that CN extractable gold for the:
- near surface oxide samples reported on average 87% recovery (samples from Drill hole KRC-23-005)
- transitional zone samples reported on average 90% recovery (samples from Drill hole KRC-23-006); and
- unoxidized, sulphide-bearing samples reported on average 89% recovery (samples from Drill hole KRC-23-007).
Table 1 below details the Leachwell (CN extractable gold) gold results and analysis.
Panthera has also noted that when the one high grade 'outlier' pair sample is removed, the total Leachwell and Tails increases the average gold grade from 0.57g/t to 0.66g/t, a 16% increase versus the fire assays.
Figure 1 below details the locations of the 2023 RC drill holes in relation to the K1A mineralisation and historical RC drill holes.
The very positive Leachwell test results provide support to the strategy of continuing and expanding work at Kalaka, and in particular at the K1A target and extensions.
David J Reading,
Notes to Editors:
In
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Additional Mineral Resource Estimate Disclosures
- *Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues.
The Mineral Resources in this note were reported using CIM (2014) Standards on Mineral Resources and Reserves, Definitions and Guidelines and adopted byCIM Council . - The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define this Inferred Resource as an Indicated or Measured Mineral Resource. It is uncertain if further exploration will result in upgrading the Inferred Resource to an Indicated or Measured Mineral Resource category.
- The Mineral Resource has been constrained by an open pit evaluation using a gold price of US$1900 per ounce, and then reported at a cut-off of 0.5 g/t Au.
- Contained metal and tonnes figures in totals may differ due to rounding.
Forward-Looking Statements:
This release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact in this release that address activities, events, or developments that DFR expects or anticipates will or may occur in the future are forward-looking statements or information. Often, but not always, forward-looking information can be identified by the use of words such as "aim", "aspire", "strive", "will", "expect", "intend", "plan", "believe" or similar expressions as they relate to DFR. Forward- looking information is subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking information.
There are a number of important factors that could cause DFR's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: the ability to obtain requisite regulatory approvals; the ability to finance the drilling campaign; commodity prices; the gold exploration and mining industry in general; the potential impact of the announcement on relationships; including with regulatory bodies, employees; suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.
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