Hawthorn Unveils High-Grade Gold Drilling Success at Anglo Saxon
Hawthorn Resources reports exceptional high-grade gold results from a major drilling campaign at its Anglo Saxon project, setting the stage for potential open pit mining development.
- 53-hole, 7846m reverse circulation drilling program completed
- Multiple intervals exceeding 30 g/t gold, including historic bonanza grades
- Updated Mineral Resource Estimate and open pit optimisation underway
- Potential shift from underground to expanded open pit mining
- Hawthorn well capitalised to advance development amid record gold prices
Drilling Program Delivers Outstanding Results
Hawthorn Resources Limited has completed a significant reverse circulation drilling program at the Anglo Saxon Gold Project, part of the Trouser Legs Joint Venture in Western Australia. The 53-hole, 7846-metre campaign was designed to infill and update the existing Mineral Resource Estimate (MRE), which currently stands at 157,000 ounces at an average grade of 6.1 grams per tonne.
The drilling has confirmed excellent continuity of high-grade gold mineralisation within a series of narrow quartz veins stacked along the Pinjin Shear Zone. Notably, nineteen discrete intervals graded above 30 grams per tonne, with some historic holes reporting bonanza grades exceeding 200 grams per tonne, underscoring the project's rich potential.
Strategic Shift Towards Open Pit Mining
These robust results have prompted the joint venture partners to reconsider mining strategies. The high-grade veins, combined with record Australian gold prices, support the feasibility of expanding the existing open pit rather than relying solely on underground mining. This approach could reduce operational risks and improve project economics by exposing high-grade zones more efficiently.
To this end, the JV has engaged BM Geological Services in Kalgoorlie to incorporate the new drilling data into an updated MRE and to conduct a fresh open pit optimisation study. These studies are expected to conclude by late January, after which the JV intends to enter negotiations with third parties for potential development partnerships.
Robust Capital Position and Next Steps
Hawthorn Resources confirms it remains well capitalised, with a strong balance sheet to support the next phase of development. The company is poised to capitalise on the favourable gold price environment and the enhanced resource profile. The forthcoming resource update and optimisation results will be critical in shaping the project's future trajectory and investment appeal.
Managing Director Brian Thornton emphasised the low-risk nature of the proposed open pit expansion, highlighting the continuity of high-grade veins and the strategic advantage of utilising current mining, haulage, and processing cost inputs alongside record gold prices.
Regional Context and Infrastructure
The Anglo Saxon project is strategically located 140 kilometres northeast of Kalgoorlie, within a prolific gold-producing region. The Trouser Legs JV holds a substantial tenement package along the Pinjin Fault, historically known for high-grade gold production. The JV also controls a dedicated haul road linking the open pit to nearby Carosue Dam operations, facilitating efficient logistics. Proximity to Ramelius’ Rebecca operations further underscores the area's mining potential.
Bottom Line?
With high-grade continuity confirmed and open pit options gaining traction, Hawthorn’s next resource update will be pivotal for investors eyeing gold’s robust outlook.
Questions in the middle?
- How will the updated Mineral Resource Estimate impact the project's valuation?
- What are the key economic differences between the proposed open pit and underground mining options?
- Which third parties might partner with the JV for development, and on what terms?
