New resource boosts outlook for Andy Wells project
JOHANNESBURG (miningweekly.com) – ASX-listed Doray Minerals on Monday announced a new combined indicated and inferred resource of 106 000 oz for its Western Australia-based Judy Lode exploration site, located adjacent to its Andy Well gold project.
The Joint Ore Reserves Committee-compliant resource was the result of a recent drilling campaign and was the second high-grade resources to be defined at Andy Well, and had increased Andy Well’s total resource to 1.22-million tons at 11.3 g/t of gold for 444 000 contained ounces.
Significantly, the total resource for Judy Lode included the high-grade Judy South zone, which measured 137 000 t at 19.3 g/t of gold for 85 000 oz and constituted some 80% of the total contained ounces.
Doray MD Allan Kelly said he expected the estimation of the second gold resource in Andy Well to have a significant impact on the project.
“This new resource, which is in close proximity to the future underground Wilber Lode mining operations, has the potential to add to the initial 3.7-year mine life indicated by the bankable feasibility study due to be completed later this year,” he commented.
Kelly said the estimation of this second resource confirmed that Andy Well had the potential to host multiple deposits.
“Importantly, based on our experience thus far and, given the nature of the Judy Lode mineralisation, we believe we should be able to again achieve a high conversion rate from resource to reserve at Judy. This should then translate into an increased mine life at Andy Well to almost five years,” he said.
Openpit mining at Andy Well started in November, with first production scheduled for the September quarter of this year.
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