PERTH (miningweekly.com) – ASX-listed junior Explaurum has announced a 125% increase in the mineral resource estimate at its Tampia gold project, in Western Australia.
The company on Wednesday reported that the resource estimate had increased to 11.3-million tonnes, at 1.91 g/t gold for 695 000 oz of gold, with 90% classified as indicated.
“The new Tampia mineral resource estimate has exceeded our expectations and the target assumed for the 2016 scoping study, which supported development of a proposed standalone mining operation exhibiting strong economics. It is a very pleasing result,” said Explaurum MD John Lawton.
“The new Tampia gold project mineral resource has a number of attractive features for future development; shallow and high-grade gold mineralisation exhibiting excellent continuity, and a well understood and simple resource geometry, which indicates excellent potential for an exceptionally high conversion of resource to reserves, as well as low mining costs.”
Lawton said that the relatively close proximity of the project to Perth, as well as readily available infrastructure required for project development, were of considerable value to the project.
Mineral resources at Tampia are expected to grow, both within the vicinity of the current resource at depth and down dip, as well as regionally where 24 targets will be actively explored over the coming six months.