Alliance Resources Ltd. estimated a maiden resource for the Weednanna gold deposit, part of its 75.01%-owned Wilcherry open pit and underground project, held under a joint venture with 24.99%-owner Tyranna Resources Ltd.
The deposit in South Australia hosts about 1.1 million tonnes at 5.1 g/t gold for 181,000 contained ounces, according to the Sept. 6 release, with 83% of resource within 120 meters of surface.
The estimate comprises indicated resources of 590,000 tonnes at 4.6 g/t gold for 88,000 ounces, and inferred resources of 507,000 tonnes at 5.7 g/t gold for 93,000 ounces. All gold shoots in the resource are open either at depth or down plunge.
There is also potential for new gold shoots not included in the current estimate, including a major quartz vein up to 20 meters thick identified in the immediate hanging wall to gold mineralization at shoot one.