Carrick Gold (CRK)

Shares / Stock Code

CRK

Stock Exchange / Sharemarket

Australian Securities Exchange

Carrick Gold (CRK) is having excellent mineral and gold exploration success at its Lindsays Au Project, which hosts the Parrot Feathers and New Discovery prospects. The resource base stands at 3Moz. Exploration and infill drilling will increase the overall resource. Drilling at the Kurnalpi Project, Brilliant Prospect has yielded very high-grade results, e.g., 16m at 25.6g/t Au. Also at Kurnalpi, one hole at the Grey Dam Ni sulphide discovery intersected 65m at 0.66% Ni. Two holes have encountered near-surface Ni sulphide. The Company operates mainly in one segment. Its subsidiary is Shannon Resources Limited. Shannon Resources Limited is an owner of various tenements.

Carrick Gold (CRK) has 10 years' experience in operating an impressive suite of tenements and a 3Moz JORC-compliant gold resource, which is set to increase by year’s end. CRK's Lindsays, Kalpini and Kurnalpi projects are located in the Eastern Goldfields and are well serviced by excellent roads and nearby mining infrastructure. The average market capitalisation per ounce for a Western Australian gold explorer is approximately $53/oz. This is within 8% of CRK's calculated in-situ valuation of $56/oz. The company is not a producer at this stage and so has no customers as such. Although its tenements are securely held and the company is meeting its expenditure commitments to retain them, there is a competitive market for new tenements that CRK may have its eye on. There is stiff competition for mineral exploration services at the moment, with the industry operating at high levels, which can result in delays.

Carrick Gold History

Carrick Gold (CRK) is building Au resources at Lindsays, Kalpini and Kurnalpi projects. Finding cost is low, less than $2/oz. JORC resource currently stands at a credible 46.7Mt at 2.38g/t, and mostly amenable to open-pit mining. The successful acquisition of Shannon gave CRK two exciting projects from which to create value for shareholders. The Brilliant Au Prospect has high grades and the regional exploration potential is excellent. There has also been a Ni find at Grey Dam, with sulphides in several holes.

Carrick Gold (CRK) Products and Services

  • Gold exploration

Carrick Gold (CRK) Locations and Subsidiaries

Carrick Gold Head Office
16 St. George's Terrace, Level 11,
PERTH, WA 6000

Phone: (08) 9225 5544
Fax: (08) 9225 5533

Carrick Gold (CRK) Share Price

Submitted by ASX Listed Company on 6 March, 2010 - 07:42

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