- Ramelius Resources (RMS) releases new estimates of mineral resources and ore reserves, with mineral resources up 15 per cent after mining depletion
- As at June 30, total mineral resources were estimated to be 110 million tonnes (Mt) at 1.6 grams of gold per tonne (g/t) for 5.4 million ounces (Moz) of gold
- Total ore reserves were estimated at 17Mt at 2g/t gold for 1.1Moz of gold
- RMS attributes increases in mineral resources to exploration drilling and resource additions at the Eridanus, Galaxy and Edna May gold projects in WA
- Shares closed at $1.41 on September 9
Ramelius Resources (RMS) has released new estimates of mineral resources and ore reserves, with mineral resources up 15 per cent since mining depletion.
As at June 30, total mineral resources were estimated to be 110 million tonnes (Mt) at 1.6 grams of gold per tonne (g/t) for 5.4 million ounces (Moz) of gold.
Meanwhile, total ore reserves were estimated to be 17Mt at 2g/t gold for 1.1Moz of gold.
RMS said increases in mineral resources were achieved via exploration drilling and resource additions at its Eridanus, Galaxy and Edna May gold projects in Western Australia.
Further, the company attributed its ability to consistently met production guidance to realistic resource modelling and deliverable reserve estimates.
Accordingly, Ramelius’ ore reserves have reportedly been maintained, with mining depletions matched by additions.
Studies to convert the new resources to reserves are in progress.
Shares closed at $1.41 on September 9, 2021.