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Southern Gold defines 142,000-tonne resource for Cannon gold mine

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Southern Gold defines 142,000-tonne resource for Cannon gold mine

Southern Gold Ltd. defined a JORC-compliant resource for the Cannon gold mine, which forms part of the company's Bulong property in Western Australia.

Using a 1 g/t cutoff, the mine hosts total resources of 142,270 tonnes at 5.17 g/t of gold for 23,580 ounces of gold.

The company said Oct. 9 that the resource was based on the results of 126 drill holes, and it is highly probable that the resource can be increased with further drilling.

"An evaluation of the Cannon underground resource is now underway to assess the potential for a mineable reserve and to evaluate a suitable cost model to the company," Southern Gold Managing Director Simon Mitchell said.