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Jun 2004 - Agincourt Resources

Agincourt Resources Ltd (AGC) – Heading for 200,000ozpa Gold Production

  • The recent intersections at Williamson, so soon after the Calais discovery illustrate the impact that the Agincourt management team is having in transforming the old Wiluna mine into a potentially long life asset with significant production growth.
  • The approval of the East-West Lode project takes Agincourt over 130,000ozpa, add Calais and 150,000ozpa is attainable, add Williamson and other properties and AGC could be heading towards 200,000ozpa. Our modelling shows that the mills can be kept full just on refractory ore, and treating Williamson could then be achieved through a separate 0.4mtpa or larger mill, and that results in ~200,000ozpa.
  • Calais appears to be a high grade (~10g/t or so) link zone between East Lode and Woodley, extended over 1km on strike and open at depth. It consequently has the potential to become a classic 600,000oz to 1moz Wiluna – type orebody, and depending on the deeper intersections, could even exceed 1moz.
  • Williamson’s transition zone was historically essentially overlooked due to drilling difficulties with the lake rig, whereas from the Causeway access, RC drilling has already produced material intersections such as 36m @ 3.6g/t incl 16m @ 6.75g/t in the transition zone, which could result in a significant non-refractory source of ore.
  • Written by: Keith Goode
  • Tuesday, 29 June 2004