Gascoyne adds ounces in WA
PERTH (miningweekly.com) – Western Australian gold junior Gascoyne Resources has increased its Dalgaranga mineral resource to more than one-million ounces.
The ASX-listed company reported on Wednesday that the total resource for the project had increased by 35% to 23-million tonnes, grading 1.4 g/t gold for 1.02-million ounces of gold.
Some 509 000 oz of the resource was classified as measured and indicated.
The new resource estimate was updated to include recent drilling undertaken at the site.
“The updated Joint Ore Reserves Committee-compliant resource represents a major step forward for Gascoyne’s Dalgaranga project and the company as a whole,” said MD Mike Dunbar.
“The company now has two one-million-ounce gold projects on granted mining leases within Western Australia. Development studies at both the Glenburgh and Dalgaranga projects highlight the potential for near-term, high-margin and relatively low-capital-cost developments,” he added.
Dunbar said the Dalgaranga project had the potential to support an 80 000 oz/y to 100 000 oz/y operation, with a mine life of around six years. The project would likely be developed first, providing a base on which Gascoyne could expand its production to more than 150 000 oz/y with the development of the Glenburgh project.
Prefeasibility studies on the Dalgaranga project were due in early 2016.
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