Crocodile Gold Corp. has released updated mineral resource and mineral reserve statement as at, 31st of December 2010, covering their Northern Territory (NT) Properties in Australia.
Crocodile Gold confirmed that it continues to anticipate production of 200,000 ounces of gold in 2011 from its operations in the Northern Territory of Australia. The bulk of Crocodile Gold’s 2010 production is expected to be processed in the 2.4 m tonne/year Union Reefs mill. Ore fed to this mill will be sourced from the Howley and North Point open pit mines and the Brocks Creek underground mine. The Tom’s Gully underground mine is currently being developed and ore from this mine will be fed directly to the 240,000 tonne/year Tom’s Gully mill located adjacent to the mine late in Q3 2010.
Crocodile Gold announced drill results from the Brocks Creek property, Northern Territory, Australia. Highlights include; Hole ZU725-4 which intersected 4.38 m true width averaging 5.34 g/t from 55.40 m. Hole ZEDDH004W3A intersected 4.90 m true width grading 7.03 g/t from 335.65 m. Results of the underground infill drilling confirmed continuity of mineralization in areas with current indicated and inferred resources. Results of surface drilling confirmed that mineralization continues down-dip for at least 100 m and remains open at depth.
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