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”).


Highlights

  • Total Inferred Mineral Resource of approximately 1.035 Mt @ 3.2g/t Au for 105,000oz Au (1.0g/t cut off) at the Blue HeavenProspect
  • Includes a higher-grade component of approximately 0.582 Mt @ 4.7g/t Au for 87,000oz Au (1.5g/t cutoff)
  • Primrose Gold Project comprises the Company’s Blue Heaven and Pansy Pit Prospects. Inferred Mineral Resource based solely on Blue Heaven
  • Significant potential upside exists via further drilling at the Pansy Pit Prospect
  • Mineral Resource restricted to 100m depth below surface due to insufficient detailed drilling at depth of the nuggetty natured mineralization
  • Preliminary desktop optimisation studies indicate strong potential for economic extraction of the majority of the mineral resource - approximately 784,000 tonnes at 3.6g/t Au for 92,000ounces
  • Company can now pursue the monetisation of the Blue Heaven Resource
  • Further drilling required to further evaluate targets located down dip and along strike of untested historical workings (Exploration Target) and high-grade mineralisation down dip and plunge of the Mineral Resource below a depth of 100m belowsurface.

Resource Estimation

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.

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