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Ramelius Resources Ltd.
Summary
| Project: | Mt Magnet | |
|---|---|---|
| Deposit: | Mt Magnet | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 19-12-2016: Ramelius Resources Ltd. announces a Resource Estimation report for its Mt Magnet deposit at the Mt Magnet project. Updated mineral resource and new drill results incl. 8m @ 12.20g/t Au. Ramelius Resources Limited (ASX:RMS) is pleased to announ | |
| Resources: | (Resource, I+I): 1.271Mt @ 1.6g/t Au at Stellar and Stellar West | |
| CP/QP: | [Resources]: Rob Hutchison (Internal) | |
| ABSTRACT: | Ramelius Resources Limited (ASX:RMS) is pleased to announce that a new mineral resource of 1.27 Mt @ 1.6 g/t for 65,000 ounces of gold has been generated for the Stellar and Stellar West deposits (refer Table 1). These deposits have the potential to add open pit ore feed to the recently announced Milky Way open pit project, located nearby (refer Figure 2). Infill RC drilling targeting the saddle between the Morning Star and Black Cat South open pits, located 2km south of the processing plant, is underway. Four RC holes were drilled at the Shannon deposit, targeting mineralisation below the pit, which is directly south of the Milky Way area. Two holes returned strong gold intersections. Exploration drilling adjacent to the Stellar West deposit has delineated significant gold mineralisation along the western flank of the newly named Zeus Porphyry contact (refer Figure 7). A single RC drill hole (GXRC1492) returned a highly encouraging intersection of 8m at 12.20 g/t Au from 65m to end of hole. This intersection appears to correlate with significant Aircore drill results, up to 19m at 1.31 g/t Au from 32m located 140m further north. Broad zones of significant gold mineralisation have been returned from selected RC drilling, located 300m due east of the Hesperus pit (abutting the Galaxy Mine Area), where historical drilling rarely exceeded 40m depth. | |
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