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Resource review lights the way for Ord River

11th February 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior developer Ord River Resources has defined more resource under its Plutonic Dome gold joint venture (JV), in Western Australia.

The company reported on Tuesday that a review of the existing K2 model has highlighted a high-grade resource beneath the existing openpit operation.

The project’s global resource has now increased by over 10% since the JV was announced in November last year, and currently stood at 7.7-million tonnes, grading 3.13 g/t gold for 778 000 oz of gold.

“The updated resource modelling of K2 will act to underpin Ord’s development plans for the Plutonic Dome gold project,” said Ord MD Frank Zhu.

The resource has now been divided into the K2, K2 and K2SE resource, and demonstrated a clear pathway to production using existing infrastructure, Zhu said.

Ord River was sole funding up to A$6-million in exploration work over the next two years, to earn a 75% interest in the Plutonic Dome project. Ord River would act as project manager for the sole-fund period, after which the party holding the highest JV interest would be the manager.

The project is owned by ASX-listed Dampier Gold.

Edited by Creamer Media Reporter

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