PERTH (miningweekly.com) – The indicated and inferred mineral resource estimate for the Morila pit at the Morila gold project, in Mali, has increased from 1.3-million ounces of contained gold to 2.2-million ounces of contained gold, ASX-listed Firefinch reported on Monday.
Firefinch in November last year completed the A$28.8-million acquisition of the Morila project from gold miners AngloGold Ashanti and Barrick Gold, with the project currently producing at an annualised rate of up to 50 000 oz/y recovered gold from tailings.
Firefinch previously unveiled plans to increase production by restarting openpit mining at satellite pits and at Morila itself.
The company on Monday said that global resources for the entire Morila project were now estimated at 2.35-million ounces of gold.
Nearly 70% of the increase in ounces was attributed to the application of a 0.4 g/t cut-off grade for the openpit, and the unification and validation of various databases by independent database consultants, as well as a geologically driven approach by independent consultants Optiro.
“This resource estimate certainly surprises and shows that Morila the Gorilla is back. The mine has produced 7.5-million ounces of gold to date and, with resources of almost 2.4-million ounces, Morila is now a ten-million-ounce goldfield,” said Firefinch executive chairperson Dr Alistair Cowden.
“The size of the resource places Morila among the largest goldfields held by ASX-listed gold companies and it is particularly pleasing that this has been achieved without drilling a hole at Morila.