Projects

Silver Exploration

 

Heap Leach Silver Exploration Targets

 

Alcyone is targeting total mineral resources of between 30 and 50 million ounces of silver from across the Texas Project area, sufficient to extend the Twin Hills mine life beyond ten years. This is inclusive of the Mineral Resources reported for Twin Hills and Mt Gunyan.

 

At this stage Alcyone has identified a potential Exploration Target* of 15Moz of in situ silver mineralisation in the locations shown in the map above and summarised in the table below:

 

Location

Target

(Moz)

Tonnes

Average Silver Grade

Comments

Min.

Max.

Min.

Max.

Twin Hills

Southern Extension1.0250,000750,0006080Near surface, strike extent defined by some previous drilling
Deeps1.0250,000500,00080150Beneath current planned open pit
Subtotal1.9     

Mount Gunyan

Main Deposit0.5250,000750,0003050Additional mineral resource from re-estimation
Deeps1.4500,0001,000,0006080Depth extension to current mineral resource
South East0.5250,000500,0004070Shallow, extent defined by some RAB drilling
South West0.5250,000500,0004070Shallow, extent defined by some RAB drilling
Subtotal2.9     

Western Tectonic Corridor

Tornado1.0250,000750,00060100Surface sampling Ag +/- Zn anomaly defines +600m strike depth
Hornet1.4500,0001,000,0006070Numerous occurrences, Ag +/-Cu/Zn, not part of main Cu prospect
Falcon1.0250,000750,0006080Ridge line to NE and parallel to Hornet, similar potential to Hornet Ag
Unnamed 11.0250,000750,0006080Additional as yet untested structures defined by Sub Audio Magnetic (SAM) survey and mapping
Unnamed 21.0250,000750,0006080Additional as yet untested structures defined by SAM survey and mapping
Subtotal5.3     

Individual Targets

Tom Cat2.2750,0001,500,00060100Ag/Zn soil anomaly defines strike extent
Silver Spur North0.5250,000500,0004080Near surface lodes, strike and width defined in part by RAB drilling
Hawker2.2750,0001,500,00060100Silver soil anomaly, RC drilling returned up to 100g/t Ag, strike length of 100m
       
TOTAL15.0     

 

The Moz figures are determined by averaging the tonnage and applying the minimum grade.
The Moz figures are rounded.
The targets identified are conceptual in nature based on some or all of the following information/assumptions:
  • Preliminary drilling defining some aspects of the target dimensions and grade
  • Surface sampling defining some aspects of the target dimensions, the grade range is applied based on similar targets or existing prospects/deposits
  • Geophysical interpretation; the tonnes and grade is applied based on comparison to better identified targets or existing prospects/deposits in the same or similar geological setting
*These targets do not have sufficient information to quote mineral resources nor is there any guarantee that with additional exploration these targets will become mineral resources.

 

Alcyone’s key near-term targets for heap leach silver exploration are:

 

  • Western Tectonic Corridor (WTC) – a 5km long geological structure which hosts the Hornet, Falcon and Tornado targets in the western area of Alcyone’s tenement holding. The WTC has been interpreted as a series of NNW-SSE trending shear zones intersected by north-south orientated structures, with the potential for precious and base metals mineralisation to exist along and at the intersections of these features.

 

  • Twin Hills and Mt Gunyan Deposits have the potential to deliver extensions to their current mineral resource both at depth and along strike.

 

  • The Silver Spur region, located 2km south-east of Twin Hills, is also emerging as an exciting target. Alcyone has recently identified a zone of near-surface silver mineralisation to the north of the historic mine.