The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 4th November 2009 (211 views)

Gold reserves at the Carosue Dam project in Western Australia are significantly higher than originally thought, the owner of the mine has announced.

According to Saracen Mineral Resources, some 880,000 ounces of gold reserves are now believed to be situated at the site, a 34 per cent increase from previous estimates.

Its overall gold resources are also 18 per cent higher at 3.04 million ounces, it said.

The increases are a result of Saracen including the Karari gold deposit into the Carosue Dam mine plan.

Saracen said in a statement: "The inclusion of ore reserves at Karari, totalling 223,000 ounces from 4.8 million tonnes of ore at a grade of 1.4 g/t, will add at least two years [of] production life."

Production is expected to begin at the Carosue Dam project in 2010, when operations will begin in a two-stage process.

The procedure will start in the South Laverton gold field, which is located about 120 km north-east of Kalgoorlie.

 

« Back to Gold News stories