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Korab adds to Bobrikovo resource

16th July 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Metals developer Korab Resources has added to the mineral resource of its Bobrikovo gold/silver project, in Ukraine, taking the estimate to 3.3-million ounces of gold and adding a maiden silver resource of 16.3-million ounces.

The company told shareholders on Tuesday that the silver resource had the potential to further improve the project’s economics, with silver by-product credits not having been included in previous studies to assess the project’s economics.

The company also added that additional drilling at Bobrikovo could potentially increase the mineral resource estimate, adding that the current silver mineral resource estimate was only based on the volume contained within the gold mineral resource wireframe.

In March this year, Korab launched a prefeasibility study on the Bobrikovo project, which would examine the production of between 60 000 oz/y and 70 000 oz/y of gold from the fresh rock zone starting below the oxide zone currently being mined.

Edited by Creamer Media Reporter

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