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Norton's resources at over 10Moz

Norton's resources at over 10Moz

Photo by Reuters

3rd February 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Norton Gold Fields has increased its mineral resources by about 49%, to over ten-million ounces of gold, following an update to its mineral resource and reserves for the year ended December.

The resource estimate includes the acquisition of the Bullabulling and Mt Jewel projects, which were acquired in 2014.

“Norton aims to increase its mineral resource through a combination of exploration, innovation and acquisition,” said MD and CEO Dianmin Chen on Tuesday.

“We are particularly pleased to have substantially increased our mineral resource and to have maintained our ore reserve above one-million ounces for the seventh successive year.”

Chen noted that the large resource base would provide Norton with an opportunity to grow its business and increase its old production on the back of an already-record year in 2014.

The total measured, indicated and inferred mineral resource is estimated at 247-million tonnes, grading 1.3 g/t gold for 10.35-million ounces. Proven and probable mining reserves are estimated at 18.5-million tonnes, grading 1.87 g/t gold for 1.11-million ounces.

Edited by Creamer Media Reporter

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