Ramelius Resources Limited announced a major increase in the total Edna May and Greenfinch Mineral Resources and the Greenfinch Ore Reserve. Significant new drilling at Edna May was conducted in late 2017 and early 2018 (see ASX Releases, “December 2017 Quarterly Activities Report”, 30/01/2018, “Exploration & Resource Development Update”, 9/03/2018 & “March 2018 Quarterly Activities Report”, 30/04/2018).
The Edna May deposit forms the primary ore source for the Edna May gold mine at Westonia in Western Australia, located 300km east of Perth. The Greenfinch deposit is a strike extension of the Edna May deposit and is located immediately west of the Edna May Stage 2 open pit currently being mined.
Mineral Resources are now:
- Edna May 26.1 Mt @ 9 g/t Au for 794 koz
- Greenfinch 4.3 Mt @ 1 g/t Au for 154 koz
- Total 30.4 Mt @ 0 g/t Au for 948 koz
This represents a 12% increase over that stated by Evolution Mining Ltd on 31 December 2016 for the Edna May Mineral Resource notwithstanding gold production of some 99 koz since that date and approximately 98 koz remaining in Stage 2 open pit and stockpiles.
New drilling and resource modelling has also increased confidence in the resources. Within the Edna May deposit, the drilling has confirmed the continuity of two significant high-grade underground lodes, likely to be extensions of the underground “reefs” mined historically. Mineral Resources for these lodes (included in the above Edna May Resource) are:
- High Grade Lodes 356 kt @ 6.7 g/t Au for 77 koz
A new open pit has been designed for Greenfinch and the associated Ore Reserve is now:
- Greenfinch 1.7 Mt @ 1.2 g/t Au for 62 koz
This represents is an 88% increase on the previously stated Ore Reserve reported by Evolution Mining Ltd in December 2016 (0.83Mt @ 1.22g/t Au for 33koz).
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