- 01Mt Henry: 1.8 Moz at 1.2 g/t.
- 0270% M&I.
- 03Shallow, open-pit potential.
- 0450,000m drill program; update end-July.
Sinclair Gold (ASX: SGC) has doubled the mineral resource estimate at its Mt Henry project in Western Australia to 48 million tonnes grading 1.2 grams per tonne for 1.8 million ounces gold, comprising 1.3Moz (or 70%) in the Measured and Indicated categories.
The update includes 900,000oz of contained gold from the Mt Henry and Selene deposits, just six months after the project was acquired in February with a mineral resource of 24.5Mt at 1.2g/t gold for 900,000oz—approximately 90% of which is believed to sit within 200 metres of surface, highlighting the shallow nature of the resource and its open-pit potential.
Drilling from 20,426m of a planned 50,000m campaign at Mt Henry has delivered best assays to date of 28.6m at 2g/t gold from 224m including 12.4m at 2.8g/t, 26.9m at 1.6g/t gold from 207.8m including 9.7m at 2.5g/t, and 33.2m at 1.6g/t gold from 230.7m including 22.3m at 2g/t.
Outside of the current resources, shallow historical drilling has returned 12m at 6.1g/t gold from 17m at the Artemis deposit 50m north Mt Henry, as well as 10m at 88.2g/t gold from 5m at Birthday Gift, between Mt Henry and Selene, and 20m at 2.6g/t gold at Plutus, 200m south of Selene.
Shallow Historical Drilling
The Mt Henry deposit has remained relatively shallow and underexplored with open-pit mining between 2016 and 2019 reaching only 90m below surface and the resource largely defined within 100m of surface.
Historical drilling at depth has been limited, with numerous holes ending in mineralisation and Mt Henry and Selene remaining open along strike and at depth.
Drilling since February has rapidly validated Sinclair’s growth opportunity which extends across the broader 16 kilometre mineralised banded iron formation corridor where high-grade gold intersections at regional prospects have received minimal follow-up.
Sinclair kicked off its major 50,000m drill program in March, using five rigs to target extensions to Mt Henry and Selene beyond the boundaries of the current resource estimate, intersecting mineralisation at more than 480m below surface.
The company plans to continue step-out drilling at Artemis and Birthday Gift until year end, with the results used to guide the next phase of extensional drilling across Mt Henry for inclusion in the a new resource update expected before end-July.
Mt Henry Growth Potential
Sinclair chief executive Jeff Sansom said the resource upgrade validated the company’s belief in Mt Henry’s growth potential.
“Both Mt Henry and Selene remain open, we are already drilling outside the current MRE, and we have assays pending from 25 holes drilled beyond the resource,” he said.
“And that is before we really start testing the broader project: Birthday Gift, Artemis, and Plutus have all returned strong historical results, while large parts of the 16km mineralised corridor have seen very little exploration.”
“We are looking forward to getting into those areas as we progress our drilling because, ultimately, we believe Mt Henry has the potential to become a substantially larger, multi-million-ounce gold project.”
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