Emerald Resources NL (ASX:EMR)– whose main focus is gold exploration and mining in Cambodia – has increased its underground resource at the Okvau gold mine in the country’s Mondulkiri Province by 105,000 ounces to 2.13 million tonnes at 6.00 grams per tonne (g/t) of gold for 410,000 ounces.
This brings the overall resource at Okvau to 12.53 million tonnes at 2.40g/t for
965,000 ounces, with this also comprising an open pit resource of 10.40 million tonnes at 1.66g/t for 555,000 ounces.
Located around 265 kilometres northeast of Phnom Penh, Okvau has been mined via an open pit operation, with 323,894 ounces of gold produced – and 318,902 ounces poured – since first gold pour in June 2021.
Programs of reverse circulation (RC) and diamond drilling – collectively up to 17,580 metres – have been completed since the previous resource and reserve estimate in August 2023, seeking to infill the existing drill dataset and extend the mineralisation downdip and along strike.
Managing Director Morgan Hart said he expected the gold mine to continue producing increases to its resource base.
“Our resource and reserve update for the Okvau Gold Mine continues to support the company’s view that resources will be replenished on an ongoing basis with continued drilling to extend the current pit shell, below pit for underground potential and near mine prospects,” he said.
“In addition, Emerald has ramped up exploration and development activities at its two 100% owned projects, the Dingo Range Gold Project in Western Australia and the Memot Gold Project in Cambodia with updated resources for both projects on track for the second half of calendar 2024.”
Emerald – which was named ‘Digger of the Year’ at Kalgoorlie mining conference Diggers & Dealers earlier this month – saw shares trade slightly down on news of the resource expansion.
At 13:56 AEST, shares in Emerald were trading at $3.94: a fall of 1.25% since the market opened.