NTM Gold (ASX: NTM) has delivered a high grade maiden resource at its Hub prospect in Western Australia located within the company’s multi-deposit 170sq km Redcliffe gold project.
Hub, located 40km north of Leonora, has an inferred resource of 890,300 tonnes at 4.9 grams per tonne, for a contained 140,800oz of gold.
Hub was discovered in October 2018.
This maiden resource for the Hub prospect raises the contained global mineral resource estimate at Redcliffe to 678,700oz.
The Hub resource consists of oxide (43,000oz), transitional (17,700oz) and fresh (80,200oz) materials.
The average grades for each are 6.6g/t (oxide), 4.1g/t (transitional) and 4.5g/t (fresh).
The oxide and transitional materials extend from surface to an approximate 100m depth.
Open along strike and at depth
Managing director Andrew Muir said the Hub maiden resource is an important outcome for the company.
“Significantly, the Hub deposit remains open at strike and depth,” he added.
Mr Muir said the high grade nature of Hub highlights the deposit’s potential value, particularly the oxide material with an average grade of 6.6g/t which starts from surface.
“With the recent excellent leach results that have an average 96% recovery, the mineralisation at Hub represents a key value driver for the company.”
Project located in rich gold region
Hub is located in the centre of the Redcliffe project and remains open to the north and south and at depth.
NTM is focused on the Leonora area in the heart of Western Australia’s eastern goldfields.
The Leonora Laverton Terrane, a terrane being a fault-bounded area with a distinctive stratigraphy, structure, and geological history, has produced more than 50Moz of gold.
Redcliffe is 100%-owned by NTM and is close to existing infrastructure and mines, including Sons of Gwalia owned by St Barbara (ASX: SBM), Thunderbox owned by Saracen Mineral Holdings (ASX: SAR) and Darlot operated by Red 5 (ASX: RED).
NTM has so far established seven separate deposits within Redcliffe, all with mineral resource estimates.
They are: Hub (140,800oz), GTS (138,400oz), Nambi (82,800oz), Bindy (137,700oz), Kelly (99,500oz), Redcliffe (44,100oz) and Mesa/West Lode (35,400oz).