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Primary adds ounces in the Northern Territory

9th September 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed junior Primary Gold has reported a 21% increase in its Joint Ore Reserves Committee-compliant resource at the Mt Bundy project, in the Northern Territory.

The project is now estimated to host some 1.43-million ounces of resource, with 315 000 oz at the Toms Gully deposit, a further 968 000 oz at the Rustlers Roost deposit, and the balance of 148 000 oz at the Quest 29 deposit.

Primary Gold MD Clay Gordon said this week that the resource upgrade at Mt Bundy was a pleasing outcome for the company, and was only an indication of the significant resource potential of the region, as the company had an additional 2 200 km2 of under-explored terrain.

“The Mt Bundy gold project has many of the key logistical features of the multimillion-ounce Pine Creek-Katherine gold camps to the south, yet the project remains substantially under-explored,” said Gordon.

“This resource inventory...we believe demonstrates there is significant gold in our part of the system and given the lack of exploration, this presents an excellent opportunity for further resource growth.”

Edited by Creamer Media Reporter

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