Wednesday, 24th September 2008 (305 views)

Australia's third-biggest gold producer OZ Minerals has announced an increase in its resource base for the Prominent Hill project.

Reserves of contained gold at the site have risen by 100 per cent to 7.4 million ounces.

Intensive drilling is currently underway at the location in order to discover new zones and extend known areas of mineralisation.

The latest results from this programme include 0.33 g/t gold across 51.0 metres and 0.67 g/t gold across 64.9 metres.

Executive general manager of exploration Tony Manini said that the firm was "optimistic about the prospectivity" of Prominent Hill.

He added: "The expanded resources we are releasing today show that our optimism is being rewarded."

Meanwhile, Luiri Gold has announced that a metallurgical study carried out on its Dunrobin and Matala deposits in Zambia has provided "very encouraging" results.

Sample analysis was conducted in Perth, Australia.

 

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