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Ramelius Resources Ltd.
Summary
| Project: | Mt Magnet | |
|---|---|---|
| Deposit: | Mt Magnet | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 4-4-2017: Ramelius Resources Ltd. announces a Resource Estimation report for its Mt Magnet deposit at the Mt Magnet project. Updated ore reserve and new drill results incl. 34m @ 6.62g/t Au from 11m. Ramelius Resources Limited (ASX:RMS) is pleased to anno | |
| Resources: | (Reserve, Prob.): 1.682Mt @ 1.7g/t Au for 94koz Au contained at project | |
| CP/QP: | [Resources]: Rob Hutchison (Internal) | |
| ABSTRACT: | Ramelius Resources Limited (ASX:RMS) is pleased to announce that new Ore Reserves have been generated at both the Vivien and Mt Magnet operations in Western Australia (refer Figure 1), that will result in a revised life-of-mine plan being compiled within the next month. In addition, several exploration drill results have been received at the Mt Magnet operation. Using recently updated Mineral Resource models, new Ore Reserves were generated in March 2017. Ore Reserves have been generated using updated Resource models which incorporate recent, new RC drilling, revised geotechnical parameters, hydrogeological and environmental studies. Reserves are based on Indicated Resources only. Open pit optimisations and designs are based on current and forecast contractor mining rates. Milling and other ore costs are based on budgeted Mt Magnet costs. Mining incorporates appropriate dilution and recovery 7 factors and volumes for backfill and/or waste dump removal. All pits, except for Stellar West, have been previously mined. A Mining Proposal incorporating these pits was submitted to the DMP in March 2017. An aggregate of 15,548m of exploratory RC drilling has been completed throughout Mt Magnet since January 2017. Aircore drilling, RC drilling and the Morning Star Deeps diamond drilling are all scheduled to continue at Mt Magnet as the push to expand the Company’s Resource and Reserve base continues. | |
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