PERTH (miningweekly.com) – Gold miner Ramelius Resources has reported a maiden resource estimate of 5.99-million tonnes for the Milky Way deposit, in Western Australia.
Grading at 1.3 g/t gold, the deposit, which was some 3.6 km from the Mt Magnet processing plant, was estimated to host 241 000 oz of gold.
Ramelius MD Mark Zeptner said that the Milky Way resource had the potential to provide a significant baseload ore source and a quantum shift in the overall Mt Magnet life-of-mine plans.
“It provides further evidence that the potential of the porphyry-based deposit at Mt Magnet is significant,” Zeptner said.
Initial scoping work suggested that the Milky Way deposit could support a viable openpit operation and that more evaluation work would now start, including pit optimisation, metallurgical testwork and an assessment of statutory approval requirements.
“Further depth drill testing, evaluations, design and permitting work on the project, together with aggressive forward exploration programmes in the area, will continue over the next quarter. We aim to generate an ore reserve for Milky Way during this period and delivering additional exploration success in adjacent areas where we already have had some very encouraging drill intersections.”
Edited by: Creamer Media Reporter
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