- Kingsrose Mining (KRM) updates the mineral resource estimate (MRE) for the Talang Santo gold deposit in Sumatra, Indonesia
- The estimate is in accordance with JORC 2012 guidelines and reads 1.4 million tonnes at 5.4 grams of gold per tonne (g/t) gold and 18g/t silver
- This is a 70 per cent increase in contained gold ounces and a 120 per cent increase in contained silver ounces in the inferred category
- Kingsrose ends the day 2.08 per cent in the red with shares trading at 4.7 cents
Kingsrose Mining (KRM) has updated the mineral resource estimate (MRE) for the Talang Santo gold deposit in Sumatra, Indonesia.
The Talang Santo deposit is part of the Way Linggo Project which sits on the mineral-rich trans-Sumatran fault.
The estimate is in accordance with JORC 2012 guidelines and incorporated results from diamond drilling undertaken to test the down plunge extensions of Talang Santo.
The updated mineral resource estimate reads 1.4 million tonnes at 5.4 grams of gold per tonne (g/t) and 18g/t silver for 240,000 ounces of gold and 790,000 ounces of silver.
This is a 70 per cent increase in contained gold ounces and a 120 per cent increase in contained silver ounces in the inferred category.
Additionally, it includes a higher-grade portion of 0.68 million tonnes at 7.7g/t gold and 26g/t silver for 170,000 ounces of gold and 570,000 ounces of silver.
Managing Director Fabian Baker commented on the update.
“We are very pleased to have demonstrated continued expansion of the Talang Santo mineral resource. It is particularly encouraging to see the development of a coherent higher-grade zone below areas of past production that remains open at depth,” Mr Baker said.
“Fieldwork is ongoing with our exploration team mapping and trenching new veins and finding extensions to known veins, to define drill targets and make further discoveries on the Way Linggo Project.”
Kingsrose has ended the day 2.08 per cent in the red with shares trading at 4.7 cents in a $35.04 million market cap.