PERTH (miningweekly.com) – Gold miner Beadell Resources has reported an 11% increase in the mineral resource, and a 7% increase in the ore reserves, at its Tucano project, in Brazil.
The Tucano mineral resource has increased to 3.92-million ounces, grading 1.82 g/t gold, while the ore reserve increased to 1.58-million ounces, at 1.74 g/t gold.
This was an increase of 379 000 oz on the 2015 mineral resource estimate, or 547 000 oz after allowing for 2016 depletion of 168 000 oz.
The miner said on Tuesday that substantial increases in the mineral resource and ore reserve were reported for the Tap AB deposit, which is some 2 km from the plant. The Tap AB deposit is now estimated to host a mineral resource of 1.44-million ounces, and an ore reserve of 1.58-million ounces.
“We are very pleased that our exploration success at Tap AB has translated into meaningful increases in both reserve gold grade and ounces,” said Beadell MD and CEO Simon Jackson.
“This, in turn, increases the openpit mine life to around seven years. With planned mill upgrades, we expect that Tucano will develop into a long life robust operation.”
Jackson said that the reserve and resource increases were the result of only eight months of drilling, adding that the company was only at the beginning of its exploration journey at Tucano.