The Cumberland permit comprises the northern and southern part of Oceana Gold’s previous Globe Progress mining permit.
The total Globe Progress gold production was 1.1Moz @ 6g/t Au including 420koz @ 12.2g/t Au underground and 700koz @ 2g/t Au in an open pit.
The Cumberland permit has a historic production of 45koz @ 14.2g/t Au.
The Cumberland permit mineralisation extends for 3km south of the Globe Progress and is open to the west (under cover) and to the south.
The Cumberland tenement follows the main structural corridor that hosts the larger mines in the Reefton Goldfield and links to Siren very promising Auld Creek Au-Sb prospect.
The stibnite mineralisation extends for 10kms from Auld Creek south through Globe Progress, Souvenir, Supreme and Big River
Mineral Resource Estimate – Supreme
Mineral Resource Estimate (MRE) at the Supreme Prospect of 103koz ar 2.7g/t Au at a 1.5g/t cut-off.
The Supreme Prospect lies within the Cumberland tenement package along the main structural corridor that host all the larger mines in the Reefton Goldfield, and links through Globe Progress to Siren’s very promising Auld Creek Au-Sb Prospect.