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Ramelius Resources Ltd.
Summary
| Project: | Vivien | |
|---|---|---|
| Deposit: | Vivien | |
| 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 Vivien deposit at the Vivien project. Updated Ore Reserves at Vivien. Ramelius Resources Limited (ASX:RMS) is pleased to announce that new Ore Reserves have been generate | |
| Resources: | (Reserve, Prob.): 525kt @ 7.3g/t Au for 123koz 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. Based upon the updated Mineral Resource of 854,000 tonnes at 7.2g/t for 198,000 ounces as at 31 December 2016 (see ASX Release, “December 2016 Quarterly Activities Report”, 31 January 2017), a new Ore Reserve totalling 525,000 tonnes @ 7.3 g/t for 123,000 ounces has been generated for the Vivien mine (refer Table 1) extending mine life to at least late 2019. The new figure represents a sizeable increase on the feasibility study Ore Reserve of 400,000 tonnes @ 7.9 g/t for 101,000 ounces, considering production of 32,410 ounces has been achieved by end of December 2016 and depleted from resources. Mine life will be extended to at least late 2019 and project NPV is boosted substantially. Underground diamond drilling for deeper extensions will be ready to commence in late-April 2017, with further mine development work carried out below the completed 247mRL Drill Drive to ensure all necessary escape way and ventilation requirements are met. | |
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