Announcement Date: 2021-12-06
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Reach Resources Ltd.
Project name: Primrose
Location: Australia
Commodities: Gold
Highlight: Initial Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) is pleased to announce its Maiden Mineral Resource estimate reported in compliance with JORC (2012), for the Blue Heaven Prospect within the Primrose Gold Project, located approximately 420 km northeast of Perth, Western Australia (“Project”). A Mineral Resource estimate has been developed at the Blue Heaven Prospect within the Company’s Primrose Gold Project. The estimation was completed by Philip A. Jones as a Competent Person based on data provided by the Company. A total Inferred Resource of approximately 1.035 Mt @ 3.2g/t Au for 105,000oz has been estimated for the Blue Heaven Prospect, within the Company’s Primrose Gold Project above a nominal 1.0g/t Au cut-off grade. Using a cut-off of 1.5g/t this Inferred Resource is approximately 0.582 Mt @ 4.7g/t Au for 87,000oz Au. Additionally, the Inferred Mineral Resource and exploration target is isolated to drilling completed at the Company’s Blue Heaven Prospect alone. Drilling at the Pansy Pit could potentially increase the Company’s Resource, providing additional value to shareholders.
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