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Ramelius adds to Vivien resource

1st April 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior gold miner Ramelius Resources has reported a 16% increase in the resource estimate for its newly acquired Vivien gold deposit, in Western Australia.

Vivien’s total mineral resource has now been estimated at 805 000 t, grading 7.1 g/t gold for 185 000 oz of contained gold.

Ramelius told shareholders that the revised estimate included results from a recent diamond drilling programme completed in late 2013 at the Vivien deposit.

Ramelius acquired Vivien from fellow South Africa-headquartered Gold Fields, in a deal valued at A$10-million.

MD Ian Gordon said on Tuesday that mine design and economic evaluation studies at Vivien were currently in progress, and subject to these results and board approval, Ramelius was hoping to start development of an underground mining operation by the second half of 2014.

The Vivien operation was expected to replace production loss from the Wattle Dam mine, which was placed on care and maintenance in 2013.

Edited by Creamer Media Reporter

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