Native Mineral Resources (NMR) has delivered updated resource figures for its Granite Castle project in Queensland.
An updated mineral resource estimate (MRE) shows 620,000 tonnes at 3.22 grams per tonne (g/t) gold for 64,500 ounces and 62g/t silver for 1.24 million ounces (Moz) of silver.
Granite Castle is located 170km west of NMR’s Blackjack operations in northern Queensland – where gold production commenced last month, making it a promising asset nearby.
Additional work is planned to better understand the resource, with mapping, sampling and drilling in the pipeline to help understand if the MRE can be expanded further.
“The updated MRE provides NMR with a basis for future resource definition and sets Granite Castle up as a compelling and strategically significant emerging gold development project”, NMR managing director Blake Cannavo said.
“Future work will include further drilling to expand the resource, and metallurgical test work that will lead to a scoping study for Granite Castle’s development.”
H & S Consultants Pty Ltd was hired by NMR to update the resource estimate, making sure it complies with the 2012 JORC Code.
The MRE was estimated by using historical data completed by three previous explorers dating back as far as 1988, with the most recent being 2007.
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Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
