The project is located 25 km to the west of the Mupane plant and is connected by existing gravel roads. In summary, gold mineralisation occurs in banded iron formation ("BIF") rocks hosted by other meta-sedimentary and meta-volcanic rocks equivalent to the Lady Mary formation of the Tati greenstone belt. The mineralisation is from surface, the BIFs forming a positive topographic feature. The drill base for the resource comprises 149 holes for 13,427m from the historic database, and 68 holes for 12,854m from the 2012 drill program, for a total of 217 holes for 26,281m.
Golden Eagle is located 25 km to the Northeast of the Mupane plant and connected by a gravel haul road. The gold mineralisation is hosted in a highly altered schistose package within meta-basalts of the Lady Mary formation of the Tati greenstone belt.
Tau, Kwena and Tholo
The Tau, Kwena and Tholo resources are all from the Mupane mine area adjacent to the plant. Mineralisation is in graphitic iron formation rocks hosted by the intermediate volcanic suite comprising the Penhalonga Formation of the Tati greenstone belt. Both the Tau and Kwena pits have been mined to the initial pit limit and these resources represent depth extensions to the mineralisation. Tholo is currently being mined and these resources represent extensions to known mineralisation.
The stockpiles were accumulated during the tenure of predecessor companies and the majority is made up of material from the Tau pit.
Mupane Slimes Dump
The Mupane Slimes Dump also yields its maiden resource having been drilled out by hydraulic auger drill in late 2012. This program comprised 248 auger holes for 2,418 samples (at 1.5m intervals). The dump is located next to the Mupane plant and is currently the operating slimes dump.
Jim's Luck is open at depth and along strike and there is a newly discovered parallel reef currently being exposed and drilled. There are therefore three parallel mineralised zones and the strike potential is in excess of 10km.
At Tau, a future resource at deeper levels is being tested by drilling and results will be reported at a future date.
A further fourteen historic slimes dumps in the region have been auger drilled, sampled and surveyed by the Company. It is expected that applications will be made for mining licences in respect of those additional slimes dumps, if any, that are found to be economic. Subject to the granting of the necessary mining licences, it is expected that the slimes dumps will be added to the resources of the Company in the future.
Galane is also conducting ten other active exploration projects which the company expects to advance during 2013. Each of these projects provides further opportunities for the delineation of mineral resources in the future.
Mineral resource estimates and the quality control program were prepared and supervised by Steven Duma Pr. Sci. Nat, MAusIMM, Mineral Resources Manager for Mupane Gold and a "qualified person" as defined by NI 43-101.
Information of a technical and scientific nature that forms the basis of the disclosure in this news release has been prepared under the supervision of Charles Byron Pr. Sci. Nat., MAusIMM.,MGSSA and Chief Geologist for Galane Gold, and a "qualified person" as defined by NI 43-101. Mr.Byron has more than 25 years relevant industry experience and is a BSc Honours graduate in Geology. Mr. Duma has more than 14 years relevant industry experience and is a BSc Honours graduate in Geology. They are Chief Geologist and Mineral Resource Manager respectively of the Company and serve as the qualified persons as defined by NI 43-101.
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