PERTH (miningweekly.com) – South Africa-focused gold developer Stonewall Resources has reported a 39% increase in its mineral resource, driven by a 146% increase in the Glynns-Lydenburg resource and the inclusion of the Vaalhoek mineral resource.
Stonewall’s group mineral resource now measured at 5.15-million ounces, contained in 34.7-million tonnes of ore, with 24% of the resource classified as measured and the remaining as indicated.
“We are very pleased with the progress made over the last year in re-evaluating all of the historical data accumulated through over 130 years of mining in the vicinity of the TGME project,” said Stonewall MD Rob Thomson.
He noted that in addition to adding a further 1.43-million ounces to the mineral resource base, the mineral resource upgrade also identified numerous target for follow-up drilling and evaluation, as well as new underground opportunities.
“We expect this mineral resource to grow further in coming weeks with the inclusion of maiden mineral resources at the high-grade Theta Hill opencut, and we continue to progress towards our goal of restarting gold production at the earliest opportunity,” Thomson said.