Metal Bank Ltd (ASX:MBK) has scored a glittering win, bumping up the global gold resource of its Livingstone gold project in Western Australia by 73%.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The updated mineral resource estimate at Livingstone now sits at 2.81 million tonnes at 1.36 grams per tonne, yielding 122.6 kilo ounces, Metal Bank said today.
Within this, 70% of the MRE is in the inferred category, while 30% is indicated.
Individual deposits at Livingstone, which is located around 140 kilometres northwest of Meekatharra, were also updated, including Kingsley, which rose 139% to 1.68Mt at 1.35g/t Au for 73.0koz Au.
Homestead rose by 8% for 1.00Mt at 1.35g/t Au for 43.4koz Au while Winja received an initial JORC 2012 resource of 125Kt at 1.53g/t Au for 6.2koz Au.
The nature of mineralisation at Livingstone is also notable, with all deposits close to the surface. Kingsley’s is from surface to around 120 metres below, Winja’s inferred resource being from surface to approximately 80 metres below, and Homestead from surface to approximately 115 metres below.
“From a strategic standpoint, the 73% increase at Livingstone gives our team significant optionality moving forward and makes the asset more attractive to regional processing facilities,” Executive chair Ines Scotland said.
“Along with advancing our copper plans in Saudi Arabia and Jordan, we have been committed to realising the full value and potential of our Australian assets.
More market news
Together: The U.S. has suspended aid to Ukraine. Will Europe step into the breach?
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
“The refinement of the Kingsley deposit model taking into account our 2022 drilling results, a modern interpretation for Winja, and updated pit optimisation parameters at Homestead have resulted in MBK delivering a global inferred resource at Livingstone of over 120koz.”
Metal Bank has been trading at 1.7 cents.
Join the discussion: See what HotCopper users are saying about Metal Bank Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.