Resolute Mining has announced a major upgrade in mineral resources and ore reserves for its Ravenswood gold mine.
Ravenswood ore reserves have increased by 1 million ounces, or 58 per cent from, to 2.7Moz. Mineral resources at Ravenswood have increased by 24 per cent from 4.8Moz to 5.9Moz.
The expanded gold inventory offers the potential to ramp up production as part of the the Ravenswood Expansion Project (REP).
“One million additional ounces of gold in ore reserves at Ravenswood is an excellent outcome from our recent drilling programs and study work,” Resolute managing director and chief executive officer John Welborn said.
“Available gold resources at Ravenswood now exceed five million ounces demonstrating its status as an outstanding Australian gold mine.
“With almost three million ounces of gold in ore reserves we are now directing our ongoing study work to focus on an optimised REP that can produce about 200,000 ounces annually over a 15-year mine life.”
He said the expanded gold inventory demonstrated the opportunity for Ravenswood’s transformation into a large-scale, low-cost operation with an exceptionally long mine life.
Resolute’s Ravenswood deposits consist of Buck Reef West, Nolans and Sarsfield – all immediately adjacent to the Nolans Processing Plant within a radius of 1.5sq km.