PERTH (miningweekly.com) - ASX-listed Norton Gold Fields has reported a 42% increase in its indicated and inferred resource at the Black Flag West vein, which forms part of the Homestead deposit, in Western Australia.
The indicated and inferred mineral resource at Black Flag now stood at 107 000 t, grading 23.9 g/t, for 82 000 oz of gold. This was up from the 58 000 oz of gold previously estimated at the site.
Norton MD and CEO Dianmin Chen said that the resource upgrade to Black Flag built on Norton’s strategy of increasing gold production to drive down costs.
“Today’s announcement further underpins Norton’s vision to be a leading gold producer, setting the industry benchmark in innovation, operational efficiency and cost control.”
Underground mining at the Homestead deposit is currently being undertaken in two main north-trending, shear hosted mineralised veins, and within the recently delineated east-west trending Black Flag West vein.