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Dragon Mining Ltd.
Summary
| Project: | Vammala Production Centre | |
|---|---|---|
| Deposit: | Jokisivu, Orivesi, Kaapelinkulma | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 2/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-2-2018: Dragon Mining Ltd. announces a Resource Estimation report for its Jokisivu, Orivesi, Kaapelinkulma deposit at the Vammala Production Centre project. Updated Mineral Resource for the Vammala Production Centre. Dragon Mining Limited (ASX:DRA) (“D | |
| Resources: | ||
| CP/QP: | [Overall Report]: Joe McDiarmid (RPM Global Holdings Ltd.) | |
| ABSTRACT: | Dragon Mining Limited (ASX:DRA) (“Dragon Mining” or “the Company”) is pleased to announce that an update of the Ore Reserves for the Company’s Nordic Projects has been completed. The update has lifted the total Proved and Probable Ore Reserves for the group as at 30 September 2017 to 2,315 kt grading 3.1 g/t gold for 232 kozs, the highest total Ore Reserve tonnage level recorded by Dragon Mining since commencing activities in the Nordic Region in 2000. The updated total Ore Reserve represents an overall increase of 29% in tonnage and 22% in ounces of gold, after depletion for mining to 30 September 2017, when compared to the Proved and Probable Ore Reserves as at 31 December 2016 of 1,790 kt grading 3.3 g/t gold for 189 kozs. The 31 December 2016 Ore Reserve was released to the ASX on the 21 March 2017 – Ore Reserves Updated for Dragon Mining’s Nordic Projects. The updates have increased the mine life for the Jokisivu Gold Mine to four years, whilst successful drilling campaigns carried out at the Orivesi Gold Mine during 2017 has resulted in an additional year of Ore Reserves being defined. This has provided the Company with confidence that Ore Reserves in Finland are sustainable until mining starts at the Faboliden Gold Project and beyond. When including the Ore Reserves for the Faboliden Gold Project, where the Company is working towards environmental approval, the Company now has sufficient Ore Reserves for production through to at least 2024. | |
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