Mt Porter

Pine Creek Goldfields Ltd (PCG), a subsidiary of Renison Goldfields Consolidated Ltd (RGC), extensively explored Mt. Porter gold mineralisation between 1988 and 1994.  Exploration by RGC/PCG at Mt. Porter included a total of 223 drill holes. 
 
The final phase of PCG’s exploration at Mt. Porter (46 holes) concentrated on the “10400 Zone” (see cross section below for 10450 N) where earlier drilling had identified a coherent zone of relatively high-grade (3-4 g/t Au) gold mineralisation at shallow depths, less than 70 metres from the surface. 
 
PCG completed ore body modeling of Mt. Porter early in 1994. The estimated global resources (JORC 1999) were:
 
Cut-off 1.5 g/t Au  240,000-250,000 t @ 3.6-3.8 g/t Au
Cut-off 1.7 g/t Au 215,000 t @ 3.9 g/t Au
Cut-off 2.0 g/t Au  176,000 t @ 4.4 g/t Au
 
Between 1995 and 1997, an additional 14 drill holes, some as deep as 810 metres (600 metres vertical), were completed by Homestake Gold of Australia Ltd (Homestake) under a farm-in arrangement with RGC.  Homestake explored for major new zones of mineralisation over a kilometre long section of the Mt. Porter mineralised trend, mainly to the north of the 10400 Zone. 
 
In 2003, Arafura Resources Ltd (Arafura) completed a program of 7 inclined core holes totalling 417.5 metres into the 10400 Zone to confirm the continuity of the highest-grade gold mineralisation. These holes all intersected medium to high grade quartz veins outcropping on ridge crests which are amenable to simple low cost open pit mining.  The results showed similar grades and widths to the surface sampling.  
 
In early 2004, an updated resource estimate was completed for Arafura by Reseval Pty Ltd. Published identified resources for the Mt. Porter 10400 Zone deposit, calculated in compliance with the requirements of the JORC Code 1999, now stand at: 
 
  Cut-off 0.5 g/t Au   Cut-off 1.7 g/t
Indicated Resources 694,000 t @ 2.0 g/t Au Indicated Resources 300,000 t @ 3.1 g/t Au
Inferred Resources  184,000 t @ 1.55 g/t Au Inferred Resources 55,000 t @ 2.6 g/t Au 
TOTAL RESOURCES  878,000 t @ 1.9 g/t Au TOTAL RESOURCES 355,000 t @ 3.0 g/t Au 



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