Rebirth getting closer

摘要

Gleneagle Gold Ltd's managing director Ian Prentice highlighted two regional targets within the company's Peak Hill holdings in Western Australia -- targets he hopes will help guarantee the junior's transformation from active explorer to gold producer. The first -- Nathans -- is only one kilometre from the Fortnum treatment plant, which was once owned and operated by Perilya Ltd and is currently sitting on care and maintenance under Gleneagle's watch. Prentice said the junior had completed some drilling under the Nathans pit and identified the high-grade "Nathans North Shoot", which has returned intercepts like 11 metres at 4.45 grams/tonne gold and 10m at 4.5 g/t. In its day Nathans yielded 79 l.000t of ore at 2.8 g/t, producing 67,600 oz. It currently has a resource of 570,000t at 1.9 g/t (for 42,500 oz). "It's still largely underdrilled and there is a lot more work to be done there, but we can see an opportunity to deepen that pit based on those resources or to go underground on that high-grade shoot," Prentice explained.