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Adelaide estimates 107,000-ounce maiden resource at Barns gold deposit

AdelaideResources Ltd. has estimated a JORC-compliant maiden mineralresource for the Barns deposit, part of the Eyre Peninsula gold project South Australia,of 2.11 million tonnes at 1.6 g/t of gold for 107,000 ounces, at a 0.5 g/tcut-off.

The resource is classified into 380,000 tonnes of indicatedresources and 1.73 million tonnes of inferred resources, the company said July19.

The company will now conduct metallurgical testing toestablish gold recoveries, evaluate development options and conduct explorationto increase the resource inventory.

The Barns deposit is open to the south and down dip, withpotential to increase the resource. Five nearby gold prospects also show strongpotential to deliver additional resources.

Previously, scoping studies on Barns showed that the golddeposit has potential to support mine development.