A1 Consolidated Gold Ltd (ASX:AYC) has reported a 200% higher grade resource of 9,600 ounces gold at 10.50 g/t from Phase 1 Target Area of the A1 Gold Mine near Woods Point, Victoria.
The total resource at the project is 281,200 ounces.
This includes the first ever measured resource of 5,000 tonnes for 2500 ounces of gold at a high grade of 15.53 g/t.
A1’s drilling, assaying and modelling over the last 8 weeks is valued at over $17 million at today’s prices.
The best results from the drilling campaign includes 20.4 metres at 47.29 g/t gold and 10.95 metres at 24.47 g/t gold.
The drilling program at the A1 mine is being carried out by contracting partner PYBAR Mining Services.
The game changer for A1 is the company-owned, fully permitted 150,000 tonnes per annum Maldon gold processing facility in Victoria.
Milling continued in April 2016 with a further 348 ounces of gold poured and the company received revenue, net of refining charges, of $758,154 from sales of 463.5 ounces of gold and 56.7 ounces of silver.
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