Photo by: Bloomberg
PERTH (miningweekly.com) – Junior gold miner Ramelius Resources has reported a 12% increase in the mineral resource at its Edna May operation, in Western Australia.
The project is now estimated to host a mineral resource of some 794 000 oz, including a high-grade resource of 77 000 oz, grading 6.7 g/t gold.
Ramelius on Wednesday also reported an 88% increase in the Greenfinch ore reserve, which now stood at 62 000 oz. The Greenfinch deposit is a strike extension of the Edna May deposit, and lies immediately west of the Edna May Stage 2 openpit currently being mined.
Regulatory approvals for mining the Greenfinch deposit are currently being progressed, along with evaluations of the next phase of openpit or underground mining options for the Edna May deposit.
Ramelius in October last year took ownership of the Edna May operation following a deal with gold miner Evolution Mining. The transaction included A$40-million in cash up-front and up to A$50-million of contingent payments comprising royalties and cash or Ramelius shares.