PERTH (miningweekly.com) – Gold miner Doray Minerals has reported a 34% increase in the resource at its Andy Well gold mine, in Western Australia, replacing its second year of production and maintaining its resource inventory.
Doray on Wednesday announced a 149 000 oz increase to the Andy Well resource inventory, with the increase attributed to the significant extensions to the Wolber Lode through a recent deep underground diamond drilling programme, as well as the addition of the maiden Suzie Lode resource and subsequent upgrades of that resource.
Total resource delineated, coupled with the full-year exploration spend of A$4.18-million, translated to a discovery cost of around A$17/oz.
Doray MD Allan Kelly pointed out that the new Andy Well mineral resource, when combined with cumulative production to date, totalled some 750 000 oz.
“When we made the Wilber Lode discovery back in 2010, we thought there was potential for an initial 250 000 oz gold discovery and that, over time, the Andy Well project had potential to become a new one-million-ounce gold camp.”
“We have now shown that the project is well on its way to reaching that milestone.”
The Andy Well reserves have been maintained at around 210 000 oz, despite the production of nearly 89 000 oz in the financial year ended June.
The addition of the recently acquired Deflector project to Doray’s portfolio took the company’s total resource inventory to 1.18-million ounces at 7.7 g/t gold and 27 000 t of copper.