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- 3D Resources (DDD) has successfully completed the acquisition of the Adelong Gold Project in southern NSW
- Following a heavily oversubscribed capital raising, 3D Resources decided to settle the purchase in full to give it immediate access to the project
- 3D Resources has already advanced plans to progress drilling and develop cash flow opportunities
- The company has also already started conversations with its preferred driller and is negotiating contracts to begin drilling on Donkey Hill in June
- 3D Resources is up a steady 25 per cent and shares are currently trading for 0.3 cents each
3D Resources (DDD) has successfully completed the acquisition of the Adelong Gold Project.
Following a heavily oversubscribed capital raising, 3D Resources decided to settle the purchase in full to give it immediate access to the project.
Effective from May 15, 3D Resources has now taken control and ownership of the project.
The Adelong Gold Project covers an area of 70 square kilometres and is located approximately 20 kilometres from Tumut and 80 kilometres from Gundagai in southern NSW.
It has produced around 800,000 ounces of gold with 50 per cent coming from hard rock sources and the other 50 per cent from alluvial deposits.
More than 100,000 ounces of very high-grade ores have been historically produced from theChallenger, Victoria, and Gibralter mines.
The average ore grade from Victoria sits at 56g/t gold, the average ore grade from Challenger sits at 87g/t gold, and the average ore grade from Gibraltar sits at 34g/t gold.
Approximately 36,500 metres of drilling has been carried out at Adelong over many years and around 29,000 metres of it was completed at Challenger.
3D Resources is now undertaking additional drilling to expand the existing resource, and modelling to develop the possibility of trucking ore to nearby unused, yet available, mill to generate cashflow.
The company has also already started conversations with its preferred driller and is negotiating contracts to begin drilling on Donkey Hill in June.
Historical drilling at Donkey Hill has intersected multiple vein systems with some high-grade intercepts and 3D Resources will be following up on this.
3D Resources is up a steady 25 per cent and shares are trading for 0.3 cents each at 2:13 pm AEST.
