PERTH (miningweekly.com) – Gold miner Resolute Mining has reported a 46% increase in the ore reserves at its Mount Wright underground mine, in Queensland.
The Mt Wright project forms part of the greater Ravenswood operation.
Resolute said on Thursday that recent detailed underground diamond drilling, which formed part of a life-of-mine extension study, had confirmed sufficient mineralisation for the viable development of a further three underground levels and stoping operations below the current mining base.
A further 1.7-million tonnes of ore, and 137 000 oz of gold have been defined, which brought the project’s total ore reserve to 4.1-million tonnes, grading 2.7 g/t gold for 352 000 oz, and extended the project’s life by some 14 months.
“This is a meaningful addition to the Mt Wright mine life that also gives us some further flexibility in planning the development of the Ravenswood operation,” said Resolute CEO Peter Sullivan.
Resolute was expecting to deliver some 345 000 oz of gold during the full year, at an all-in sustaining cost of $1 175/oz, during the full 2013.