JOHANNESBURG (miningweekly.com) – The gold resource at Aim-listed Xtract Resources’ Manica project, in Mozambique, has increased 36% to 1.26-million ounces.
The increase followed an independent technical study of the mineral resources of the project’s Fair Bride gold deposit by Minxcon Projects. The results of the study would form a part of the Manica project’s bankable feasibility study, which was nearing completion.
"Not only has the gold content increased significantly, but the total measured and indicated volume available to be mined has also increased by over 56%,” said Xtract CEO Jan Nelson.
He noted that this created flexibility from an openpit perspective, considering the company’s revised mine plan.
“The life-of-mine of the project has the potential to be increased well beyond 12 years with further drilling," he said.