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Ramelius Resources Ltd.
Summary
| Project: | Mt Magnet | |
|---|---|---|
| Deposit: | Morning Star | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 24-5-2017: Ramelius Resources Ltd. announces a Resource Estimation report for its Morning Star deposit at the Mt Magnet project. Updated mineral resource estimate for Morning Star and new Life of Mine plan for Mt Magnet. Ramelius Resources Limited (ASX:RM | |
| Resources: | (Resource, I+I): 9.188Mt @ 1.7g/t Au for 506000oz Au contained at Morning Star | |
| CP/QP: | [Resources]: Rob Hutchson (Internal) | |
| ABSTRACT: | Ramelius Resources Limited (ASX:RMS) is pleased to announce that a new Life of Mine (LoM) plan has been generated for the combined Mt Magnet & Vivien operations in Western Australia (refer Figure 1). This has been achieved on the back of several Ore Reserve upgrades in recent months and now also includes a new open pit Mineral Resource at Morning Star, which is part of the Mt Magnet operation. With deeper exploration drilling currently underway at Morning Star and Vivien, and access available for exploration at both Water Tank Hill and the Galaxy Complex later in the year, foundations are in place for a further mine plan upgrade in 6-9 months’ time. Morning Star is a previously mined large open pit and deep underground located 3.2km NW of Mt Magnet townsite and 1.8km SE of the Checkers processing plant. Previous production recorded includes 6.2Mt @ 3.4g/t for 675,000oz from the open pit and 3.6Mt @ 5.4g/t for 629,000oz from the underground (UG). The Star UG mine was closed in 2005, at a depth of 980m. The deposit consists of several subsidiary ore bodies including Star, Latecomer, Evening Star, Broken Bond and Eddie Carson. Varying mineralisation styles occur with main examples being; Latecomer – porphyry hosted, wide, quartz-carbonate-molybdenite vein stockwork, Evening Star – BIF hosted with pyrite-pyrrhotite-quartz veins and Star – pipe-like stockwork of steeply plunging shoots with quartz-carbonate-pyrite-molybdenite vein arrays hosted in strongly altered and sheared mafic volcanics. | |
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