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Ramelius Resources Ltd.
Summary
| Project: | Mt Magnet | |
|---|---|---|
| Deposit: | Shannon | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-9-2017: Ramelius Resources Ltd. announces a Resource Estimation report for its Shannon deposit at the Mt Magnet project. Significant increase in Shannon mineral Resource. Ramelius Resources Limited (ASX:RMS) is pleased to announce a major increase to t | |
| Resources: | (Resource, I+I): 581kt @ 4.6g/t Au for 86,000oz contained at Shannon | |
| CP/QP: | [Resources]: Rob Hutchinson (Not stated) | |
| ABSTRACT: | Ramelius Resources Limited (ASX:RMS) is pleased to announce a major increase to the Shannon Mineral Resource as a result of recent drill programmes conducted in April and July 2017 (see ASX Releases, “June 2017 Quarterly Activities Report”, 28/07/2017 & “Exploration & Resource Development Drilling Update”, 4/09/2017). The Shannon deposit forms part of the Cosmos mining area at Mt Magnet in Western Australia and is located 600m south-west of the recently commenced Milky Way open pit (refer Figure 1). This drill hole has potentially extended the strike of the resource by 100m, with the deposit remaining open at depth as well as further along strike. The mineralisation at Shannon is hosted by a moderately dipping, quartz vein/lode with good strike and dip continuity. Following re-evaluation of the Shannon open pit cutback, an underground mine evaluation and design will be undertaken. Ramelius owns 100% of the Mt Magnet gold mine and associated processing plant located in the Murchison region of Western Australia. The Company is mining underground at the high-grade Vivien gold mine near Leinster as well as underground at Water Tank Hill and open pit mining at Mt Magnet, with several pit cut-backs and new pits underway that form part of the new Cosmos Mine Area (refer Figure 1) | |
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