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CNR Condor Gold Plc

29.75
0.25 (0.85%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Condor Gold Plc LSE:CNR London Ordinary Share GB00B8225591 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.25 0.85% 29.75 29.00 30.50 29.75 29.50 29.50 381,827 13:27:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 0 -2.53M -0.0140 -21.25 53.79M

Condor Gold PLC La India Open Pit Drill Results (3424M)

23/05/2022 7:00am

UK Regulatory


Condor Gold (LSE:CNR)
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From Apr 2022 to Apr 2024

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TIDMCNR

RNS Number : 3424M

Condor Gold PLC

23 May 2022

 
         Condor Gold plc 
    7/8 Innovation Place 
           Douglas Drive 
               Godalming 
                  Surrey 
                 GU7 1JX 
 

23 May 2022

Condor Gold Plc

("Condor", "Condor Gold" or the "Company")

34.1 Metres True Width at 2.56 g/t Gold From Near Surface Within La India Open Pit.

Condor Gold (AIM: CNR; TSX: COG) is pleased to announce significant assay results from the sampling of geotechnical drill holes on the La India Open Pit. These intercepts are located within and between the planned high-grade starter pits and provide additional confidence to the mineral resource in this key area.

Highlights:

-- 34.1 m true width at 2.56 g/t gold amalgamated from 2.80 m drill depth including 6.0 m at 4.3 g/t gold, 2.0 m at 5.3 g/t gold and 3.65m at 8.75g/t gold (drill hole LIGT536), located within the planned Northern Starter Pit.

-- 28.7 m true width at 2.62 g/t gold in the hanging-wall of historic mine workings (drill hole LIGT528).

-- 5.3 m true width at 3.11 g/t gold from 36.00 m drill depth, and 5.1 m true width at 2.70 g/t gold from 51.45 m drill depth in drill hole LIGT531; located in an area that has previously been interpreted as a low-grade zone between two high-grade shoots that host the planned starter pits.

Mark Child, Chairman and CEO commented:

" A wide zone of 34.1 metres true width of good open pit grade gold mineralisation of 2.56 g/t gold from only 2.80 metres drill depth is ideal material as initial mill feed for the permitted processing plant and supports the attractive project economics and 12 month pay back detailed in the PEA technical report filed in October 2021. This was a geotechnical drill hole within La India open pit that was initially surveyed and analysed for structures and rock strength, which once completed, was assayed for gold and silver. It adds confidence to the geological model for the forthcoming Feasibility Study and serves as a timely reminder of the wide zones of material with good open pit gold grade available near surface within the fully permitted La India Project".

Background

Condor announced the completion of 21 geotechnical drill holes on the planned La India Open Pit in an RNS dated 30th November 2021. The drilling was designed to provide drill core samples through all sides of the pit wall in order to collect geotechnical information to analyse and to determine the geotechnical parameters for the final pit design to a Feasibility Study (FS) level of detail, which is to plus or minus 15% accuracy. In all cases the drill holes were collared within the open pit shell and angled to pass through the pit wall at a pre-determined location in order to sample the rock mass that will eventually form the pit wall. Three of the geotechnical holes were drilled through the principal La India mineralised zone to test the pit walls on the footwall side of the pit. The drill core collected through the mineralised zone effectively provides additional infill drill samples, and this material was assayed after the geotechnical test work had been completed.

Assay results

The twin geotechnical drill holes LIGT528 and LIGT536 have provided a useful additional infill in the planned Northern Starter Pit. The drill holes returned similar intercepts of 41.05 m (28.7 m true width) at 2.62 g/t gold and 44.85 m (30.2 m true width) at 2.55 g/t gold in the hanging-wall of the historic mine workings. Of these only LIGT536 successfully drilled into the historic mine footwall to return an amalgamated hangingwall and footwall intercept of 50.70 m (34.1 m true width) at 2.56 g/t gold from 2.80 m drill depth. This intercept includes three high-grade veins in the hanging-wall of 6.0 m true width at 4.30 g/t gold, 2.0 m true width at 5.31 g/t gold and 3.6 m true width at 8.75 g/t gold, as well as a 3 m wide mine cavity (see table below). These twin holes have returned the 8(th) and 10(th) best intercepts to-date on the La India Vein (see Table 1 below).

Geotechnical drill hole LIGT531 was drilled 150 m along strike to the southwest in the zone between the two planned starter pits. The assay results confirmed significant mineralisation at depth between the two starter pits in the segment where the La India Vein splits in two: returning significant intercepts of 7.60 m (5.3 m true width) at 3.11 g/t gold from 36.00 m drill depth (the upper La India vein), and 7.35 m (5.1 m true width) at 2.70 g/t gold from 51.45 m drill depth (the lower La India vein). These assay results add confidence to the geological model.

Table 1. Top ten gold intercepts from drilling at La India (* latest geotechnical drill samples).

 
    Drill     Intercept  Intercept  Interval  True    Au      Ag (g/t)  True grade-  Vein 
     hole ID   From       To (m)     (m)       width   (g/t)             width 
               (m)                             (m)                       (gm/t) 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
1   LIDC109    173.15     185.35     12.20     10.8   34.79      27        374.7     India upper vein 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
2   LIDC121    111.25     117.90      6.65     6.0    32.23      40        194.3     India upper vein 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
3   LIDC152    193.80     214.88     21.08     16.1   10.24      8         165.4     India vein 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
4   LIDC239     14.40      19.20      4.80     4.4    37.24     120        162.0     India hangingwall 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
5   LIDC413     29.35      51.40     22.05     21.6    6.48      16        139.7     India hangingwall 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
6   LIDC452     4.15       64.75     60.60     54.5    1.98      5         107.7     India ramp structure 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
7   LIDC193     20.70      27.50      6.80     6.5    13.99      22        91.0      India vein 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
8   LIGT536*    2.80       57.35     50.70     34.1    2.56      7         87.4      Amalgamated hangingwall-footwall 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
9   LIDC416     18.35      34.35     16.00     15.7    5.30      14        82.9      India vein 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
                                                                                     Hangingwall only (twin 
10  LIGT528*    5.50       46.55     41.05     28.7    2.62      4         75.1       to LIGT536) 
    --------  ---------  ---------  --------  ------  ------  --------  -----------  -------------------------------- 
 

True width is an interpretation based on the current interpretation of the veins and may be revised in the future.

Tab l e 2. Latest and final dr ill i n te r c e p ts on La India vein - 2021 geotechnical dr i ll holes.

 
  Drill         Collar          Drill     From     To     Drill     True      Au       Ag             Comment 
   hole      UTM WGS84-16N     incl/azi                    Width    Width    (g/t)    (g/t) 
    ID                                                      (m)      (m) 
           ----------------  ----------  ------  ------  -------  -------  -------  ------- 
 LIGT528    574920E                                                                           India stacked 
  X-sect     1409743N                                                                          veins and breccias 
   11025     397mamsl         -70/249      5.50   46.55    41.05     28.7     2.62        4    (open downhole) 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              India upper faulted 
           Incl.                           8.20   15.65     7.45      5.2     4.20       11    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              India middle 
           Incl.                          32.55   36.80     4.25      3.0     5.31        6    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              Hangingwall India 
           Incl.                          39.65   46.55     6.90      4.8     6.28        6    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
 LIGT531    575001E 
  X-sect     1409618N                                                                         India upper-mid 
   10875     410mamsl         -70/250     36.00   43.60     7.60      5.3     3.11       10    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              India upper 
           Incl.                          36.00   38.75     2.75      1.9     2.96       14    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              India middle 
           Incl.                          42.20   43.60     1.40      1.0    10.25       17    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              India lower vein 
                                                                                               and hangingwall 
                                          51.45   58.80     7.35      5.1     2.70        6    stockwork 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              India lower 
           Incl.                          55.80   58.80     3.00      2.1     4.76        8    vein 
---------------------------  ----------  ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              Amalgamated hangingwall 
 LIGT536    574920E                                                                            and footwall 
  X-sect     1409743N                                                                          India stacked 
   11025     397mamsl         -70/258      2.80   57.35    50.70     34.1     2.56        7    veins and breccias 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
           Incl.                           2.80   47.65    44.85     30.2     2.55        6   India hangingwall 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              India upper faulted 
                      Incl.                6.85   15.70     8.85      6.0     4.30        7    vein 
                                                                                              India middle 
                      Incl.               33.45   36.45     3.00      2.0     5.31        8    vein 
                                                                                              Hangingwall India 
                      Incl.               42.35   47.65     5.30      3.6     8.75       12    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
           Excl.                          47.65   50.65     3.00        -        -        -   Mine cavity 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              Footwall India 
           Incl.                          50.65   51.45     0.80      0.5     7.59       16    vein 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              Possible mine 
           Excl.                          51.45   52.30     0.85        -        -        -    cavity 
                                         ------  ------  -------  -------  -------  -------  ------------------------ 
                                                                                              Footwall India 
           Incl.                          52.30   57.35     5.05      3.4     2.31       14    vein 
---------------------------  ----------  ------  ------  -------  -------  -------  -------  ------------------------ 
 

True width is an interpretation based on the current interpretation of the veins and may be revised in the future.

* N ote: B u reau Veri t as Mi neral La bor a tor ies, C a n a d a. www . b u r e a u v e r it a s . co m/ um w a s u sed for the d r ill a ss ay res u l t s.

Note s:

1 . T h e s a m p le c h ain of c u s tody is m a n aged by the Condor 's Geo logy Team on s i t e. Repor ted res u l ts a re f r om d ia mond d r illed core s a m p les. Intervals of core to be a n a l ysed a re s p lit i nto h alf u s i ng a mec h a n i zed core c utter, w i th one h alf sent to the La bor a tory for geo c hem i c al a n al ys is a nd the rem ai n i ng h alf kept in s tor age for futu re referen ce a nd u s e s. D ia mond d r illed core h as been a HQ s i ze a nd recoveries a re con s i s tent ly 100% a c ross all d r ill h o les i ntercept repor ted.

2 . S a m p li n g a nd a n al y t i c al p rocedu res a re s ub ject to a com p rehen s ive qu ali ty a ss u r a n ce a nd qu ali ty cont rol p rogr a m. T he QAQC p rogr am i n volves i n sert ion of d u p li c a te s a m p les, b la n ks a nd cer t i f ied referen ce m a terials in the s a m p le s t rea m. Gold a n al yses a re perfor med by s t a nd a rd f i re a ss a y i ng p rotocols u s i ng a 5 0 -gr am c h a rge w i th a tom ic a b sor pt ion ( AA S) f i n i sh a nd a gr a vi met r ic f i n i sh perfor med for a ss a ys grea ter th an 10 gr a ms per t o nne.

3 . S a m p l e p rep a r a t ion a nd a n a l ys is a re perfor med by the i ndepen dent B u reau Veri t as La bor a tor ies, Ca n a d a. S a m p les a re c r u s hed a nd p rep a red in Ma n a g ua a nd pu lp s a m p les for f i re a ss ay a re d i s p a t c hed to V a n cou ver, Ca n a d a. T he L a bor a tory meets the requ i remen ts of IS O /IEC 17025 & ISO 9001, a nd em p loys a La bor a tory Infor m a t ion Ma n agement S y s t em for s a m p le t r a ck i ng, qu ali ty con t rol a nd repor t i ng.

   4.     All depths presented are from surface. 

- Ends -

For further information please visit www.condorgold.com or contact:

 
Condor Gold plc             Mark Child, Chairman and CEO 
                             +44 (0) 20 7493 2784 
Beaumont Cornish Limited     Roland Cornish and James Biddle 
                              +44 (0) 20 7628 3396 
SP Angel Corporate Finance  Ewan Leggat 
 LLP                         +44 (0) 20 3470 0470 
H&P Advisory Limited        Andrew Chubb and Nilesh Patel 
                             +44 207 907 8500 
BlytheRay                   Tim Blythe and Megan Ray 
                             +44 (0) 20 7138 3204 
 

About Condor Gold plc:

Condor Gold plc was admitted to AIM in May 2006 and dual listed on the TSX in January 2018. The Company is a gold exploration and development company with a focus on Nicaragua.

On 25 October 2021 Condor announced the filing of a Preliminary Economic Assessment Technical Report ("PEA") for its La India Project, Nicaragua on SEDAR https://www.sedar.com . The highlight of the technical study is a post-tax, post upfront capital expenditure NPV of US$418 million, with an IRR of 54% and 12 month pay-back period, assuming a US$1,700 per oz gold price, with average annual production of 150,000 oz gold per annum for the initial 9 years of gold production. The open pit mine schedules have been optimised from designed pits, bringing higher grade gold forward resulting in average annual production of 157,000 oz gold in the first 2 years from open pit material and underground mining funded out of cashflow.

In August 2018, the Company announced that the Ministry of the Environment in Nicaragua had granted the Environmental Permit ("EP") for the development, construction and operation of a processing plant with capacity to process up to 2,800 tonnes per day at its wholly-owned La India gold Project ("La India Project"). The EP is considered the master permit for mining operations in Nicaragua. Condor has purchased a new SAG Mill, which has mainly arrived in Nicaragua. Site clearance and preparation is at an advanced stage.

Environmental Permits were granted in April and May 2020 for the Mestiza and America open pits respectively, both located close to La India. The Mestiza open pit hosts 92 Kt at a grade of 12.1 g/t gold (36,000 oz contained gold) in the Indicated Mineral Resource category and 341 Kt at a grade of 7.7 g/t gold (85,000 oz contained gold) in the Inferred Mineral Resource category. The America open pit hosts 114 Kt at a grade of 8.1 g/t gold (30,000 oz) in the Indicated Mineral Resource category and 677 Kt at a grade of 3.1 g/t gold (67,000 oz) in the Inferred Mineral Resource category. Following the permitting of the Mestiza and America open pits, together with the La India Open Pit Condor has 1.12 M oz gold open pit Mineral Resources permitted for extraction.

Disclaimer

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

Qualified Persons

The technical and scientific information in this press release has been reviewed, verified and approved by Andrew Cheatle, P.Geo., who is a "qualified person" as defined by NI 43-101 and Gerald D. Crawford, P.E., who is a "qualified person" as defined by NI 43-101 and is the Chief Technical Officer of Condor Gold plc.

Technical Information

Certain disclosure contained in this news release of a scientific or technical nature has been summarised or extracted from the technical report entitled "Technical Report on the La India Gold Project, Nicaragua, October 2021", dated October 22, 2021 with an effective date of September 9, 2021 (the "Technical Report"), prepared in accordance with NI 43-101. The Qualified Persons responsible for the Technical Report are Dr Tim Lucks of SRK Consulting (UK) Limited, and Mr Fernando Rodrigues, Mr Stephen Taylor and Mr Ben Parsons of SRK Consulting (U.S.) Inc. Mr Parsons assumes responsibility for the MRE, Mr Rodrigues the open pit mining aspects, Mr Taylor the underground mining aspects and Dr Lucks for the oversight of the remaining technical disciplines and compilation of the report.

Forward Looking Statements

All statements in this press release, other than statements of historical fact, are 'forward-looking information' with respect to the Company within the meaning of applicable securities laws, including statements with respect to: the ongoing mining dilution and pit optimisation studies, and the incorporation of same into any mining production schedule, future development and production plans at La India Project. Forward-looking information is often, but not always, identified by the use of words such as: "seek", "anticipate", "plan", "continue", "strategies", "estimate", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", "could", "might", "will" and similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions regarding: future commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; the receipt of required permits; royalty rates; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing and assumptions underlying estimates related to adjusted funds from operations. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

Such forward-looking information involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to: mineral exploration, development and operating risks; estimation of mineralisation and resources; environmental, health and safety regulations of the resource industry; competitive conditions; operational risks; liquidity and financing risks; funding risk; exploration costs; uninsurable risks; conflicts of interest; risks of operating in Nicaragua; government policy changes; ownership risks; permitting and licencing risks; artisanal miners and community relations; difficulty in enforcement of judgments; market conditions; stress in the global economy; current global financial condition; exchange rate and currency risks; commodity prices; reliance on key personnel; dilution risk; payment of dividends; as well as those factors discussed under the heading "Risk Factors" in the Company's annual information form for the fiscal year ended December 31, 2020 dated March 31, 2021 and available under the Company's SEDAR profile at www.sedar.com .

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Technical Glossary

 
Assay                  The laboratory test conducted to determine the proportion 
                        of a mineral within a rock or other material. Usually 
                        reported as parts per million which is equivalent 
                        to grams of the mineral (i.e., gold) per tonne of 
                        rock 
Au                     Gold 
                       -------------------------------------------------------------- 
Breccia                A rock made up of angular rock fragments cemented 
                        together by a finer grained matrix 
                       -------------------------------------------------------------- 
Diamond core drilling  A drilling method in which penetration is achieved 
                        through abrasive cutting by rotation of a diamond 
                        encrusted drill bit. This drilling method enables 
                        collection of tubes of intact rock (core) and when 
                        successful gives the best possible quality samples 
                        for description, sampling and analysis of an ore body 
                        or mineralised structure. 
                       -------------------------------------------------------------- 
Foot wall              Originally a miner's term to refer to the rock below 
                        the mineralised zone that they exploited. Now often 
                        used to the rock adjacent to and below an ore or mineralised 
                        body or geological fault. Note that on steeply-dipping 
                        tabular ore or mineralised bodies the foot wall will 
                        be inclined nearer to the vertical than horizontal. 
                       -------------------------------------------------------------- 
Grade                  The proportion of a mineral within a rock or other 
                        material. For gold mineralisation this is usually 
                        reported as grams of gold per tonne of rock (g/t) 
                       -------------------------------------------------------------- 
g/t                    grams per tonne 
                       -------------------------------------------------------------- 
Hanging wall           Originally a miner's term to refer to the rock above 
                        the mineralised zone that they exploited. Now often 
                        used to refer to the rock adjacent to and above an 
                        ore or mineralised body or geological fault. Note 
                        that on steeply-dipping tabular ore or mineralised 
                        bodies the hanging wall will be inclined nearer to 
                        the vertical than horizontal. 
                       -------------------------------------------------------------- 
Indicated Mineral      That part of a Mineral Resource for which tonnage, 
 Resource               densities, shape, physical characteristics, grade 
                        and mineral content can be estimated with a reasonable 
                        level of confidence. It is based on exploration, sampling 
                        and testing information gathered through appropriate 
                        techniques from locations such as outcrops, trenches, 
                        pits, workings and drill holes. The locations are 
                        too widely or inappropriately spaced to confirm geological 
                        and/or grade continuity but are spaced closely enough 
                        for continuity to be assumed. 
                       -------------------------------------------------------------- 
Inferred Mineral       That part of a Mineral Resource for which tonnage, 
 Resource               grade and mineral content can be estimated with a 
                        low level of confidence. It is inferred from geological 
                        evidence and assumed but not verified geological and/or 
                        grade continuity. It is based on information gathered 
                        through appropriate techniques from locations such 
                        as outcrops, trenches, pits, workings and drill holes 
                        that may be limited, or of uncertain quality and reliability, 
                       -------------------------------------------------------------- 
Intercept              Refers to a sample or sequence of samples taken across 
                        the entire width or an ore body or mineralized zone. 
                        The intercept is described by the entire thickness 
                        and the average grade of mineralisation 
                       -------------------------------------------------------------- 
IRR                    The Internal Rate of Return (IRR) is the discount 
                        rate that makes the net present value (NPV) of a project 
                        zero. In other words, it is the expected compound 
                        annual rate of return that will be earned on a project 
                        or investment 
                       -------------------------------------------------------------- 
Kt                     Thousand tonnes 
                       -------------------------------------------------------------- 
Mineral Resource       A concentration or occurrence of material of economic 
 Estimate               interest in or on the Earth's crust in such a form, 
                        quality, and quantity that there are reasonable and 
                        realistic prospects for eventual economic extraction. 
                        The location, quantity, grade, continuity and other 
                        geological characteristics of a Mineral Resource are 
                        known, estimated from specific geological knowledge, 
                        or interpreted from a well constrained and portrayed 
                        geological model. 
                       -------------------------------------------------------------- 
Mineral Reserve        An 'Ore Reserve' is the economically mineable part 
                        of a Measured and/or Indicated Mineral Resource. It 
                        includes diluting materials and allowances for losses, 
                        which may occur when the material is mined. Appropriate 
                        assessments and studies have been carried out, and 
                        include consideration of and modification by realistically 
                        assumed mining, metallurgical, economic, marketing, 
                        legal, environmental, social and governmental factors. 
                        These assessments demonstrate at the time of reporting 
                        that extraction could reasonably be justified. Ore 
                        Reserves are sub-divided in order of increasing confidence 
                        into Probable Ore Reserves and Proved Ore Reserves. 
                       -------------------------------------------------------------- 
NI 43-101              Canadian National Instrument 43-101 a common standard 
                        for reporting of identified mineral resources and 
                        ore reserves 
                       -------------------------------------------------------------- 
NPV                    Net Present Value (NPV) is the value of all future 
                        cash flows (positive and negative) over the entire 
                        life of an investment discounted to the present. NPV 
                        analysis is a form of intrinsic valuation and is used 
                        extensively across finance and accounting for determining 
                        the value of a business, investment security, capital 
                        project, new venture, cost reduction program, and 
                        anything that involves cash flow. It is after deducting 
                        the upfront capital cost 
                       -------------------------------------------------------------- 
Open pit mining        A method of extracting minerals from the earth by 
                        excavating downwards from the surface such that the 
                        ore is extracted in the open air (as opposed to underground 
                        mining). 
                       -------------------------------------------------------------- 
Quartz                 A common rock mineral composed of the elements silicon 
                        and oxygen. 
                       -------------------------------------------------------------- 
Stockwork              Multiple connected veins with more than one orientation, 
                        typically consisting of millimetre to centimetre thick 
                        fracture-fill veins and veinlets. 
                       -------------------------------------------------------------- 
Strike length          The longest horizontal dimension of an ore body or 
                        zone of mineralisation. 
                       -------------------------------------------------------------- 
True width             The shortest axis of a body, usually perpendicular 
                        to the longest plane. This often has to be calculated 
                        for channel or drill samples where the sampling was 
                        not exactly perpendicular to the long axis. The true 
                        width will always be less than the apparent width 
                        of an obliquely intersect sample. 
                       -------------------------------------------------------------- 
Vein                   A sheet-like body of crystallised minerals within 
                        a rock, generally forming in a discontinuity or crack 
                        between two rock masses. Economic concentrations of 
                        gold are often contained within vein minerals. 
                       -------------------------------------------------------------- 
 

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