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Ramelius Resources Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Penny | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/30/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-6-2020: Ramelius Resources Ltd. announces a Resource Estimation report for its Penny deposit at the Penny West project. Updated Resources and Reserves for Penny. Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the Company”) is pleased to provide a f | |
| Resources: | (Reserves, Prob.): 500kt @ 14.0g/t Au (230koz Au) | |
| CP/QP: | [Resource] Kevin Seymour (Internal) | |
| ABSTRACT: | Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the Company”) is pleased to provide a further update to its LOMP, along with associated updated Mineral Resource and Ore Reserve positions for the Penny Gold Project, from its portfolio of assets located in Western Australia (refer Figure 11). This new mine plan confirms the Ramelius’ ability to produce in excess of 1.4Moz gold at an average AISC of A$1,250 - A$1,350/oz over a six year mine life with the potential to deliver further resource extensions from current operations, whilst retaining the ability to also grow through acquisition. In addition, Ramelius has incorporated the results of the PFS for the Company’s newly acquired Penny Gold Project south-east of Mt Magnet in Western Australia. The study has demonstrated exceptional grade and margins that promise to return significant cashflows to the Company from late FY2022. | |
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