Excelsior Gold Limited is an ASX listed Australian gold development and exploration company with a core focus on its 100% owned Kalgoorlie North Gold Project located in Western Australia’s premier gold producing region.
The Kalgoorlie North Gold Project is a contiguous land holding covering 96 square kilometres comprising granted mining leases and prospecting licences extending over 25 kilometres strike length of the Bardoc Tectonic Zone greenstone belt.
The Company recently completed mining of the Zoroastrian Central open pit which provided the necessary funds for a detailed drill out of additional resources, a feasibility study and ongoing exploration for “game changer” discoveries.
Within the Project, widespread gold mineralization occurs along the Bardoc Tectonic Zone hosted in major north-northwest trending shears and northeast and northwest cross-cutting structures. The gold mineralisation is structurally related to neighbouring multi-million ounce gold deposits at Paddington (+2Mozs) to the south, Mount Pleasant (+3Moz) to the west and Aphrodite (+1Moz Au) to the north.
Historic gold production from the Bardoc Mining Centre in the central part of the Project was from the underground Zoroastrian Mine in the late 1890s to early 1900s and from the Zoroastrian and Excelsior open pits mined by Aberfoyle Gold between 1987 and 1991. Open pit production totalled 2,220,000 tonnes at 1.6g/t Au for 113,000ozs of gold.
Since acquisition of the Project in August 2009, Excelsior Gold has conducted an ongoing program of review utilising an extensive historic drilling database and targeted reverse circulation and diamond drilling campaigns aimed at expanding and upgrading the gold resources.
Current Measured, Indicated and Inferred Resources for the Project prepared and classified in accordance with the JORC Code (2012) total 17.1 million tonnes at 1.6g/t Au for 887,000 contained ounces of gold. The Mineral Resources were calculated at various cut-off grades dependant on the depth and other influencing factors.
The close proximity of the Company’s deposits to the Paddington treatment facility and other process plants in the region has enabled Excelsior Gold to progress the development of several open pits enabling the build-up of cash reserves.
Open pit mining commenced in November 2015 with the first ore delivery to Paddington in December 2015. Mining ceased in August 2017 to concentrate on rebuilding the reserve base to justify the building of our own process plant to provide better returns. Widespread gold mineralisation outside the currently defined resources provides an excellent opportunity for further resource increases.