PERTH (miningweekly.com) – Junior Catalyst Metals has reported an initial Joint Ore Reserves Committee-compliant ore reserve estimate of 115 000 oz for its Henty gold mine, in Tasmania.
The maiden reserve follows the recently released mineral resource update for Henty, which now stands at 2.6-million tonnes at 4.3 g/t gold for 368 000 oz of gold.
“This reserve is a key strategic milestone for Henty because it underpins our growth plan and highlights the project’s increasingly strong future,” said Catalyst MD and CEO James Champion de Crespigny.
“This is shown by the fact that we have been able to convert 55% of the indicated resource to ore reserve. Importantly, the anticipated Henty mine life now extends beyond five years using a mine plan which incorporates the increased production rates being targeted in coming years.”
In the June quarter, production at Henty was 6 397oz at an all-in sustaining cost of A$2 100/oz. Production for the 2022 financial year was 25 199 oz and Catalyst is targeting an annualised gold production rate of 35 000 oz by the end of 2023.