Operations

Twin Peaks Pit looking South

The Twin Peaks deposit is located approximately 12.5km to the north of the Carosue Dam processing facility.

Saracen has been unable to drill at the highly prospective Twin Peaks deposit since it acquired ownership of the Carosue Dam assets in 2006 due to constraints deriving from heritage issues associated with the Lake Rebecca exclusion zone.

Saracen has been working through a Section 18 application with the Department of Indigenous Affairs has recently been granted access to explore on these tenements. A drill program targeting the down-dip extension of the known resource has been planned and is due to be executed during the September 2011 quarter.

Open pit production between 2003 - 2005 yielded 750kt of ore grading 2.7g/t producing 64koz.

Existing drilling has only been conducted to a depth <300m with the deepest drillhole intersecting  a narrow dolerite dyke.

A plan showing a long section of the existing resource and planned drilling is shown below. Best intercepts at depth include 19m @ 6.1g/t and 25m @ 4.96g/t, both represent significant underground potential.