Ramelius Resources Limited – Resources and Reserves Statement 2019
Wednesday, September 11th, 2019
The Directors of Ramelius Resources Limited (ASX: RMS) are pleased to announce new estimates of Mineral Resources and Ore Reserves as at 30 June 2019, with Mineral Resources up 18% and Ore Reserves up 20% for the year, after mining depletion.
Total Mineral Resources are estimated to be;
• 81 Mt at 1.6 g/t Au for 4.1 Moz of gold
Total Ore Reserves are estimated to be;
• 15 Mt at 1.8 g/t Au for 840 koz of gold
Increases were largely achieved via the acquisition of the Marda and Tampia projects. As in previous years, Ramelius’ ability to meet production guidance has been underpinned by realistic resource modelling and deliverable reserve estimates.
Due to the 30 June 2019 cut-off date applying for this statement, gold price assumptions used for Ore Reserves range from A$1,650/oz to A$1,800/oz. Gold price assumptions used for Resources and Reserves will be reviewed and updated on an ongoing basis.
Managing Director, Mr Mark Zeptner said:
“This year, we have seen healthy overall increases, especially in Ore Reserves, mainly due to the acquisition of Marda and Tampia, whilst at the same time maintaining circa 200,000 ounces of gold production for the 2019 financial year.
Given our exploration spend remains at Company record levels of approximately A$20M for the 2020 financial year, we are looking forward to Resource and Reserve conversions at our exciting Eridanus, Vivien, Edna May & Symes Find projects whilst looking to grow the baseline Reserves at both Marda and Tampia as we come to fully understand their true potential.”https://www.rameliusresources.com.au/