Kathleen Valley boosts Ramelius reserves
PERTH (miningweekly.com) – The recently acquired Kathleen Valley project has allowed gold miner Ramelius Resources to support a 4% increase in its mineral resource grade and a 12% increase in the grade of its gold reserve.
The junior miner on Friday reported that total mineral resources were estimated at 28.15-million tonnes, grading 2.5 g/t gold for 2.22-million ounces of gold, while ore reserves were estimated at 4.85-million tonnes, grading 2.7 g/t gold for 424 000 oz.
“I am encouraged to see that our latest resource and reserve position has effectively replaced gold production over the past 12 months, without needing to use the recent higher Australian gold price to justify an increase,” said Ramelius MD Mark Zeptner.
“In saying that, we will be strongly focused on converting more than two-million ounces of our resource base into reserves and the mine plan over the next 12 months, through brownfield exploration and resource development.”
Zeptner said Ramelius had a good opportunity to grow the current three-year mine plan using its cornerstone 1.7-million-tonne Checker gold mill asset, at Mt Magnet.
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