Ramelius eyes 130 000 oz production by 2016
KALGOORLIE (miningweekly.com) – Gold miner Ramelius Resources’ recent gold buys were expected to push its production to around 130 000 oz/y by 2016, CEO Mark Zeptner told delegates at the Diggers & Dealers conference, in Kalgoorlie.
Zeptner said on Tuesday that for the 2015 financial year, Ramelius was expected to produce about 78 000 oz of gold, with the lion's share being sourced from the company’s Mt Magnet operations, in Western Australia.
At the end of last year, Ramelius announced a A$10-million buy of the Vivien gold project, in Western Australia, and in June this year spent another A$3.64-million to acquire the Kathleen Valley tenements from Glencore's Xstrata Nickel.
The Kathleen Valley tenements contain a Joint Ore Reserves Committee-compliant resource of 130 000 oz over three deposits.
A feasibility study into the Vivien gold project, in turn, has estimated that the project would deliver about 451 000 t, grading 7.6 g/t ore over a mine life of 30 months, to deliver about 109 000 oz of gold.
“All our development projects and existing operations give us a clear plan over the next three years to increase the grade,” Zeptner said.
He pointed out that following the development of the Vivien gold project, which was currently slated for 2016, Ramelius would look to expand the Mt Magnet mine by accessing the Water Tank Hill orebody.
A capital investment of some A$11.8-million would be required to develop the orebody, which currently has a mineral resource estimate of 105 000 oz, grading 5.2 g/t gold.
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