Summit in W.A. gold discovery
PA Wellington Drilling in Western Australia by Summit Gold, NL, had outlined a gold resource of at least 500,000 tonnes at Admiral Hill, 10km north-east of Laverton, the company said yesterday. Reverse circulation and rotary air blast drilling suggested 1.2 gms of gold a tonne. Summit told the Stock Exchange that preliminary open pit mine feasibility studies were under way.
A 3000 m reverse circulation drilling programme to test extensions of the mineralised zone and
potential zones of higher grade gold was also nearing completion. Summit, with operational bases in Perth and Kalgoorlie, has a 25 per cent participating interest in the project. Summit plans to fast track the best of its Western Australian properties to provide cashflow for its three potentially larger and higher grade hydrothermal properties in New Zealand. The most advanced of its South Island prospects is Carrick in Central Otago, where mapping and surface sampling has confirmed a series of gold-bearing reefs.
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Press, 3 December 1987, Page 33
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161Summit in W.A. gold discovery Press, 3 December 1987, Page 33
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