(MENAFN - ProactiveInvestors - Australia) Stone Resources Australia (ASX: SHK) has updated the market on the company's reverse circulation drilling program at the Alpha project, which is located in the highly prospective Laverton region of Western Australia - the second most gold area in the state following Kalgoorlie.
Drilling at Alpha commenced in early December, and by the end of 2012 a total of 16 holes have been completed for 1848 metres - which represents around a third of the drilling program.
The current Resources estimate for the Alpha deposit is 1,818,000 tonnes at 2.30 g/t gold for 134,000 ounces.
Ben Hur and Cork Tree Well
Stone Resources said that it has packed 33,302 assay samples from Ben Hur and Cork Tree Well. By taking into account 830 empty samples, there are altogether 34,132 samples that have been packed and delivered to the lab for testing.
The company added that by 20 December, it had obtained results of 2249 assays from Ben Hur out of 18 holes. There are nine samples with higher grades, with their gold ppm ranging from 10.01 to 37.30.