Western Australian Gold Exploration and Development Company
Excelsior Gold Limited is an advanced gold exploration company focused on the development of a significant gold project north of Kalgoorlie in the Western Australian Goldfields.
The Company’s primary asset is the Kalgoorlie North Gold Project located 30 to 55 kilometres north of Kalgoorlie in Western Australia’s highly prospective Eastern Goldfields.
Targeted drilling campaigns conducted by Excelsior Gold have successfully delineated 1.1 million ounces in gold resources on the Project to date with the majority of the resources hosted in two large deposits, Zoroastrian and Excelsior, in the central part of the tenements. The close proximity of the Company’s gold deposits to existing infrastructure, including processing plants, power, water, transport, telecommunications and labour, enhances the development opportunities available to Excelsior Gold and provides a number of potentially favourable development options.
The Kalgoorlie North Gold Project comprises 98 km2 of granted mining leases and prospecting licences covering 25km of strike over a well mineralized greenstone sequence known as the Bardoc Tectonic Zone (BTZ). The BTZ is known to host million ounce gold deposits at Norton Goldfield’s Paddington Gold Operations (+2Mozs) immediately to the south and at Aphrodite Gold Limited’s Aphrodite Deposit (+1Mozs) immediately to the north of Excelsior’s tenements.
The Project covers the interpreted intersection of the BTZ with the cross cutting Black Flag Fault system which influences the formation of major gold deposits in the multi-million ounce Kundana and Mount Pleasant fields to the south west. As a result of the convergence of these major gold mineralising structures gold mineralisation is widespread throughout the Kalgoorlie North tenements and is controlled and localised by major northerly trending shears and mineralised cross cutting structures.
Total Measured, Indicated and Inferred resources calculated at various lower cut-off grades ranging from 0.6 to 3.0g/t Au are currently
23.67 million tonnes @ 1.80g/t Au containing 1,367,500 ounces
In March 2014 the Company announced a positive result of the Pre-Feasibility Study ("PFS") into the development of the Kalgoorlie North Gold Project
The results of the PFS demonstrate a solid base gold operation which the Company now expects to be able to enhance through further underground and open pit Ore Reserve conversion and expansion and refinement of capital and operating cost estimates.
The PFS Ore Reserves of 7.64 million tonnes @ 2.00g/t Au for 491,600ozs Au are derived from total Project Measured and Indicated gold Minerals Resources of 15.6 million tonnes @ 1.80g/t Au for 899,800ozs Au.
The Company's PFS incorporates the construction of a new standalone 1.0 million tonne per annum conventional carbon in leach ("CIL") gold treatment plant to process ore sourced from large open pits at the Zoroastrian and Excelsior deposits and seven smaller satellite pits as well as underground or from mechanised stope designs on a portion of the large Zoroastrian gold system.
EXG’s shares are listed on the Australian Securities Exchange (ASX code: EXG).