A1 Consolidated Gold Limited (AYC)

A1 Gold Project

The company’s main project is the A1 Gold Project within mining licence MIN 5294, which includes the entire known A1 Dyke corridor. The A1 Mine is the second largest gold producer in the area, having historically produced more than 620,000 oz at 32g/t Au, up to 1992. The Company is currently actively developing an underground decline to the 1400 Stockwork Zone at a rate of approximately 100m per month.

Since listing, the company has defined a Mineral Resource Estimate in accordance with JORC (2012). See ASX Announcement dated 11th February 2013 Mineral Resources in accordance with the JORC Code (2012) Indicated – 250,000 t @ 5.1 g/t for 41,200 oz Au Inferred – 1,170,000t @ 6.4 g/t for 240,000 oz Au Totalling 281,200 oz Au.

The company has also commenced a program of underground diamond drilling aimed at identifying further targets which could be developed and economically extracted as the decline is developed to the 1400 Stockworks Zone. The A1 Gold Project has considerable potential for exploration upside and the Company is actively pursuing extensions to the known stockwork zones.

As well as Inferred Resources, the A1 Gold Project also contains exploration targets, as detailed below:

The company is fully equipped to undertake mine development and has a sub-contractor who has employed experienced management, technical and mining staff.  Surface infrastructure already in place includes an administration office and first aid facility, state grid power, phone, internet & mine-radio system, drill core and sample preparation facility and heavy equipment workshop with fuel and oil storage.

Star of the West & Ten Mile Goldfield

EL5109 (which overlaps and includes MIN4636) is located in the Kevington area, west of Ten Mile in the Jamieson-Woods Point goldfields region. 

The tenement covers most of the Ten Mile Goldfield and includes the Star of the West mine. More than 30 known mines are present on the Ten Mile Goldfield and records show a production history of 83,654 oz of gold from 162,168 tonnes at a grade of 16 g/t Au. The Star of the West group of mines produced 25,671 oz of gold from 35,447 tonnes at a recovered grade of 22.5 g/t Au.

A regional exploration program will be undertaken on these tenements. During 1987-88 an eight hole diamond drilling program to a maximum depth of 106.7 metres was completed. There were 11 visible gold intersections. It is the company’s intention to twin some of these drill holes to validate the drill data.