Ore reserves at PanAust Limited’s Phu Kham Copper-Gold Project have increased by 17%, extending the mine life by more than two years to 14 years.
The new estimate incorporates data from the 2009 south pit area infill and resource extension drill program and supercedes estimates published in the company’s 2009 annual review.
Further increases to the mineral resource are anticipated from a resource extension drill program which is under way immediately to the north and northeast of the current pit. Data from the 2010 drill program will be incorporated in the 2011 estimate.
The current reserve stands at 168 million tonnes @ 0.62% copper, 0.24 grams/tonne gold and 1.9 grams/tonne silver for 1.043 million tonnes of contained copper, 1.318 million contained ounces of gold and 10.314 million contained ounces of silver.
The measured, indicated and inferred mineral resource stands at 227 million tonnes @ 0.59% copper, 0.22 grams/tonne gold and 1.9 grams/tonne silver for 1.344 million tonnes of in-situ copper, 1.598 million ounces of in-situ gold and 13.582 million ounces of in-situ silver.
Recent drill results outside the 2010 ore reserve envelope in the north of the deposit and not included in the estimate include 64 metres @ 0.60% copper, 0.79 grams/tonne gold and 7 grams/tonne silver from 50 metres, and in the same hole 86.3 metres @ 0.80% copper, 0.74 grams/tonne gold and 3 grams/tonne silver from 158 metres; 86 metres @ 0.50% copper, 0.16 grams/tonne gold and 2 grams/tonne silver from 142 metres; 24 metres @ 1.37% copper, 0.46 grams/tonne gold and 1 gram/tonne silver from 320 metres; and 70 metres @ 0.44% copper, 0.20 grams/tonne gold and 1 gram/tonne silver from 314 metres.
In addition to the ongoing resource extension program at Phu Kham, wide intervals of copper-gold mineralization have previously been intersected in scout drilling over an area extending up to 1km to the northwest of the Phu Kham deposit pit perimeter.
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