Photo by: Bloomberg
PERTH (miningweekly.com) – Gold miner Resolute Mining on Friday reported a 1.28-million-ounce new resource at the Buck Reef West deposit, which forms part of its Ravenswood operation, in Queensland.
Resolute has been conducting an investigative drill programme at Buck Reef West with the aim of increasing the reserves close to the Ravenswood processing facility and providing added optionality to the Ravenswood operation.
A complete review of historic data, combined with the new exploration drilling, was then used to derive a mineral resource model for the area. A new resource inventory of 41.8-million tonnes, grading 0.9 g/t gold was estimated, with 70% of the resources in the measured and indicated category.
“These results significantly add to the substantial resource inventory already identified at Sarsfield and Nolans,” said Resolute CEO Peter Sullivan.
The new Buck Reef West resource lies adjacent to the Sarsfield deposit and the operating Ravenswood processing facility.
“Buck Reef West has the potential to provide the Ravenwood operation with a low development risk opportunity to extend gold production at the mine,” Sullivan added.
The Ravenswood operation delivered 37 870 oz of gold during the quarter ended March, up from the 33 629 oz delivered over the previous three months.