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Ramelius Resources Ltd.
Summary
| Project: | Mt Magnet | |
|---|---|---|
| Deposit: | Eridanus | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-12-2019: Ramelius Resources Ltd. announces a Resource Estimation report for its Eridanus deposit at the Mt Magnet project. Resource update plus new drill results incl. 210m @ 2.12g/t Au from 129m. Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the | |
| Resources: | (Resource, Total): 12Mt @ 1.3g/t Au at Eridanus | |
| CP/QP: | [Resources]: Rob Hutchison (Internal) | |
| ABSTRACT: | Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the Company”) is pleased to announce a major increase to the Eridanus Mineral Resource beyond the previously reported 150,000oz Indicated and Inferred Mineral Resource (see RMS ASX Release, ‘Resource and Reserve Statement 2019’, 10/09/2019). The new Mineral Resource represents a 226% increase in ounces, with the option of a large Stage 2 open pit currently being assessed. Eridanus is located in the Cosmos Mining Area at Mt Magnet in Western Australia. Drilling has been carried out both within the operating open pit and from beyond the pit crest to test the deeper potential of the mineralised granodiorite. Ramelius Managing Director, Mark Zeptner today said: “The significant increase to the Eridanus resource is the result of over twelve months of drilling by the exploration team, working in tandem with the operations team, at Mt Magnet. This work appears to have unearthed the third major endowment area at Mt Magnet, after Hill 50 (2.1Moz) and Morning Star (1.2Moz) and is a testament to the ongoing potential of the camp. Mine planning is underway to assess a much larger open pit than the recently commenced version, that being a 130m deep Stage 1 pit based on a 110,000 ounce ore reserve, which would provide longer term base-load feed to the Mt Magnet processing facility and also increase overall mine life.” | |
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