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The Kalgoorlie North Gold Project (Kalgoorlie North or Project), located 45km north of Kalgoorlie in Western Australia.
GPM engaged Ravensgate Minerals Industry Consultants (Ravensgate) to undertake an independent review of current resources within the extensive geological data set on the Project. This investigation has confirmed that the resources of 8Mt at 1.4g/t Au for 366,000 ounces of contained gold identified at Kalgoorlie North are consistent with the JORC Inferred Resource classification. The Ravensgate report also confirmed potential for the Project to host numerous significant resource targets.
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98 km2 of granted mining and prospecting leases covering 25km of strike over the well mineralized Bardoc Tectonic Zone extending north from Broad Arrow.
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Centred in a major gold producing region with excellent infrastructure and proximity to existing processing facilities.
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Ravensgate confirms JORC Inferred Resource of 8Mt @ 1.4 g/t for 366,000oz Au, with additional mineralisation identified in over 50 prospects and on extensions to existing resources.
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Multiple mineralised structures and extensive drilling database offer potential for significant resource expansion.
A 5000 meter infill drilling and exploration drilling program is expected to commence before the end of October 2009. This drilling program is the next step in a plan to further increase the Resources at the Project and to upgrade Inferred Resources to Indicated Resources.
The geological database acquired when GPM purchased its 70% interest in the Project included data from 9,784 drill holes and drilling/assessment work undertaken during more than 20 years of exploration over the 25 kilometres of strike of the prospective Bardoc Tectonic Zone. Ravensgate Resource Consultants are continuing their review of this high quality drilling and assay information to identify further immediate resource extension opportunities and refine drilling programs over the 13 previously drilled resource areas and an initial 20 high priority prospects within the 98 square kilometers of granted tenements.
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