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More ounces for RNI's Grosvenor project

5th September 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Emerging gold miner Resources and Investment (RNI) has added another 161 000 oz of gold inventory at its Grosvenor project, in Western Australia, bringing the Joint Ore Reserves Committee- (Jorc-) compliant resource to 1.4-million ounces.

The revised Grosvenor resource included an upgraded indicated and inferred resource at the Callies deposit, which resulted from recent extensional drilling, the company said.

The resource upgrade also included a revalidation of a 2004 resource estimate for the Labouchere openpit, which added an additional 45 400 oz to the resource base.

RNI reported on Thursday that it had also secured an option agreement with Montezuma Mining to acquire the neighbouring Peak Hill gold project, which has a Jorc-compliant resource of 11.52-million tonnes, grading 1.5 g/t gold for 561 000 oz of contained metal.

The combined resource currently stood at 1.97-million ounces.

Edited by Creamer Media Reporter

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