Ramelius Resources has announced a major increase in the total Edna May and Greenfinch Mineral Resources and the Greenfinch Ore Reserve.
|Edna May Stage 2 open pit looking west|
The Edna May deposit forms the primary ore source for the Edna May gold mine at Westonia in Western Australia, located 300km east of Perth. The Greenfinch deposit is a strike extension of the Edna May deposit and is located immediately west of the Edna May Stage 2 open pit currently being mined.
The current mineral resources stand at: Edna May 26.1 Mt @ 0.9 g/t Au for 794 koz, which excludes Stage 2 open pit and stockpiles; and Greenfinch 4.3 Mt @ 1.1 g/t Au for 154 koz.
This represents a 12 per cent increase over that stated by Evolution Mining on 31 December 2016 for the Edna May Mineral Resource notwithstanding gold production of 99 koz since that date and approximately 98 koz remaining in Stage 2 open pit and stockpiles.
New drilling and resource modelling has also increased confidence in the resources. Within the Edna May deposit, the drilling has confirmed the continuity of two significant high-grade underground lodes, likely to be extensions of the underground “reefs” mined historically. Mineral Resources for these lodes, included in the above Edna May Resource are: High Grade Lodes 356 kt @ 6.7 g/t Au for 77 koz.
A new open pit has been designed for Greenfinch and the associated Ore Reserve is now: Greenfinch 1.7 Mt @ 1.2 g/t Au for 62 koz.
This represents an 88 per cent increase on the previously stated Ore Reserve reported by Evolution.
Regulatory approvals for mining of the Greenfinch deposit are in progress. Evaluation of the next phase of open pit or underground mining options for the Edna May deposit is also underway.