WASMA Gold Sponsor Ramelius Finds New Ore Reserves
LONGER LIFE: Exploration drilling has extended the life of the Vivien gold mine which employs about 50 workers in the northern Goldfields.
Gold miner Ramelius Resources told the stock market this morning it has found new ore reserves which will take until at least late 2019 to mine out.
Work has progressed nearly 300 metres below the surface since Ramelius began underground mining in May 2015.
Underground drilling searching for deeper extensions at Vivien will resume later this month.
Vivien, 15km west of Leinster, was expected to produce 109,000 ounces over an initial 30-month mine life.
The latest drilling has boosted reserves to 123,000 ounces, which comes after production of 32,410 ounces as of December 30.
Previous mining of the Vivien open pit produced 35,600 ounces between 1997 and 1998, while the leases produced 76,000 ounces between 1902 and 1911.