Excelsior Gold Limited (ASX: EXG) – $0.078

24 Jun 2015

Excelsior Gold Limited (ASX: EXG) has extended gold mineralisation to the north of the current open pit design at the Castlereagh prospect within the Bardoc South mining area in Western Australia (Figure 1).


EXG Castlereagh Au

Figure 1. Location of the Castlereagh prospect



The reverse circulation drilling program was designed to confirm the ore reserve interpretations. Results confirm and improve the initial resource with strong mineralisation encountered outside the proposed pit design.


Highlights include:


  • 4 metres at 12.6g/t gold from 12 metres
  • 11 metres at 3.88g/t gold from 29 metres
  • 14 metres at 4.06g/t gold from 16 metres



The Castlereagh prospect is one of three open pits allocated for development prior to the end of 2015 as part of the Bardoc South Ore Treatment Agreement with Norton Gold Field Limited (ASX: NGF).


Mining of the Castlereagh open pit is scheduled to commence upon approval of the Mining Proposal lodged in March 2015.



For further information, visit www.excelsiorgold.com.au



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