Join our daily newsletter At The Bell to receive exclusive market insights
- 3D Resources (DDD) has announced a 42 per cent upgrade of gold in resources at the Adelong Goldfield in NSW
- The company said the total JORC Mineral Resources at the site now sits a 180,600 ounces
- This includes a maiden resource for the Caledonian and Donkey Hill deposits and a remodelling of resources at the Currajong deposit
- 3D said the increase also highlighted possible extensions to those mineralised zones that have not yet been drilled
- Shares in DDD are trading up 25 per cent at 0.5 cents per share
Minerals explorer 3D Resources (DDD) has announced a 42 per cent upgrade of gold in resources at the Adelong Goldfield in NSW.
The total JORC Mineral Resources for the project now sits at 180,600 ounces of gold, up from 127,000 ounces.
This includes a maiden resource for the Caledonian and Donkey Hill deposits, as well as a remodelling of resources at the Currajong deposit with the inclusion of a resource of parallel vein systems to the east.
Speaking on the upgrade, 3D Resources Chairman Ian Hastings said he was excited about the future.
“This maiden resource upgrade for the Adelong Goldfield Project is a clear sign of the exploration potential that the company believes it can unlock,” he said.
“We are only scratching the surface and I look forward to quickly progressing further exploration activities,” he added.
Work on the estimation also revealed resources are open at depth and most are along strike, offering additional exploration potential.
The company said it would like to further explore the goldfields potential, focusing on other deposits which haven’t been drilled.
This includes historic workings north of Sawpit, and a deposit in the northern end of the field Paylees.
3D also praised the new modelling, stating the work provided a clearer view for it to target extensions and further resource upgrades.
Following today’s upgrade announcement, shares in 3D Resources have jumped up 25 per cent.
Shares are trading for 0.5 cents each at the close of the market.
