PERTH (miningweekly.com) – Gold hopeful Ord River Resources has reported a 28% increase in the resource at the K2 deposit, which forms part of its Plutonic Dome gold project, in Western Australia.
The K2 resource increased to 415 000 t, grading 7.7 g/t gold for 103 000 oz of contained gold, while the total Plutonic Dome resource increased to 8.27-million tonnes, grading 3.1 g/t gold for 820 000 oz of gold.
“The substantial resource increase at K2 underground development project has provided further validation towards the rapid development strategy Ord has employed,” said Ord MD Frank Zhu.
“Ord will expedite the process of updating the K2 definitive feasibility study to determine the impact of the resource upgrade on enhancing the economics of the project,” he added.
A previously completed definitive feasibility study on the K2 orebody has revealed that it could deliver some 37 000 oz of gold over a three-year period.
Ord River is sole funding up to A$6-million in exploration work over the next two years, to earn a 75% interest in the Plutonic Dome project from ASX-listed Dampier Gold, and will act as project manager for the sole-fund period, after which the party holding the highest joint venture interest will be the manager.