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Ramelius Resources Ltd.
Summary
| Project: | Western Queen South | |
|---|---|---|
| Deposit: | Western Queen South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 29-9-2017: Ramelius Resources Ltd. announces a Resource Estimation report for its Western Queen South deposit at the Western Queen South project. Annual mineral resource statement for project, unchanged since previous year. The Directors of Ramelius Resou | |
| Resources: | (Resource, I+I): 185Kt @ 3.5g/t Au for 21000oz Au contained at Western Queen South | |
| CP/QP: | [Resources]: Rob Hutchison (Internal) | |
| ABSTRACT: | The Directors of Ramelius Resources Limited (ASX: RMS) are pleased to announce new estimates of Mineral Resources and Ore Reserves as at 30 June 2017, with Mineral Resources up 16% and Ore Reserves up 12% for the year, after mining depletions. Additions for both Resources and Reserves were largely due to changes for the Morning Star, Stellar, Stellar West, Shannon and Brown Hill deposits. These deposits all saw additional drilling, resource model updates and mine feasibility work completed during the year. The Vivien deposit saw a Reserve net increase of 5,000 ounces, after production of 53,000 ounces, due to an updated Resource model which included grade control data and increased levels of confidence gained during mining. The Mt Magnet and Vivien Ore Reserves have been estimated at a gold price of A$1,600 per ounce. Managing Director, Mr Mark Zeptner today said: “It is very encouraging to see the additional investment in brownfields exploration starting to pay off at Ramelius. To grow both the Mineral Resources and Ore Reserves by over 10% each whilst achieving a second straight year of record production is a significant result for the exploration and resource development teams. With our ongoing drilling at a number of Mt Magnet locations plus the work that is ongoing at the Vivien underground mine, we are targeting a further increase next year with the aim to have a 5-year life-of-mine for our Mt Magnet based business model.” | |
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