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Regis Resources Ltd.
Summary
| Project: | McPhillamys | |
|---|---|---|
| Deposit: | McPhillamys, Discovery Ridge | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/19/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 19-7-2019: Regis Resources Ltd. announces a Resource Estimation report for its McPhillamys, Discovery Ridge deposit at the McPhillamys project. Mineral resource and ore reserve statement. The JORC compliant Group Mineral Resources as at 31 March 2019 are | |
| Resources: | (Reserve, Prob.): 60.8Mt @ 1.04g/t Au at McPhillamys | |
| CP/QP: | [Resources]: Jarrad Price (Internal) | |
| ABSTRACT: | The JORC compliant Group Mineral Resources as at 31 March 2019 are estimated to be 263.3 million tonnes at 0.97g/t gold for 8.19 million ounces of gold, compared with the estimate at 31 March 2018 of 254.5 million tonnes at 0.96g/t Au for 7.86 million ounces of gold. The change in the Group Mineral Resources is primarily due to the addition of the Discovery Ridge deposit. Mineral Resources are reported inclusive of Ore Reserves and include all exploration and resource definition drilling information, where practicable, up to 31 March 2019 and have been depleted for mining to 31 March 2019. Mineral Resources are constrained by optimised open pit shells developed with operating costs and a long term gold price assumption of A$2,000 per ounce for the purpose of satisfying “reasonable prospects for eventual extraction” (JORC 2012). The JORC compliant Group Ore Reserves as at 31 March 2019 are estimated at 112.9 million tonnes at 1.11g/t gold for 4.03 million ounces of gold, compared with the estimate at 31 March 2018 of 117.2 million tonnes at 1.08g/t Au for 4.06 million ounces of gold. A base gold price of A$1,600 per ounce was used in Ore Reserve optimisations at the Duketon gold project while due to the significantly longer term nature of the McPhillamys project a more conservative A$1,400 per ounce was used. Ore Reserves have been depleted for mining to 31 March 2019. | |
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