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SARACEN MINERAL HOLDINGS LIMITED - ASX: SAR
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Description
Saracen Mineral Holdings Limited has become an Australian mid-tier gold producer with production beginning at the Carosue Dam gold project in early 2010. Gold will be produced at an initial rate of 120,000oz pa from within the South Laverton region of Western Australia. Saracen has a large and growing resource base. The company's assets form a resource of over 3 million oz across 2,500km2 of world class gold exploration acreage.
Exploration
Saracen Gold Mines Pty Limited (a wholly owned subsidiary) holds a large tenement position in the region covering substantial strike lengths of two major structural zones, the Laverton Tectonic Zone and the Keith-Kilkenny Tectonic Zones, which host most of the gold deposits in the region. Over 20Moz of gold has been discovered in the last 15 years in the Laverton and Keith-Kilkenny Tectonic Zones. The substantially under-explored covered areas, potential for blind flat-lying mineralized structures, growing understanding of the geological controls on gold deposits, and the large tenement holding are factors that support the potential for further gold discoveries in the region.
Twenty of the known gold deposits in the Saracen tenements are currently being systematically re-evaluated. Five of these, shown in red on the figure below, are the basis for the re-commencement of mining and processing at Carosue. It is anticipitated that additional resources and reserves will be outlined at several of the other deposits. Exploration drilling is also planned to test several new geochemical anomalies outlined by Saracen in the past two years.
Mine For
gold
Location of operation(s)
Western Australia
Address
Level 7 , 350 Collins Street
MELBOURNE, VIC, AUSTRALIA
Phone
(03) 9670 0040
Website
Last Updated
4/5/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
