Key points
- Ore Reserves increased by 13.3% Au ounces to 170 koz Au
- Sb tonnes increased by 40.2% to a total 15.0 kt Sb
- Demonstrated life of mine extended from 5 to 6 years
- Growth due to exploration and grade control processes
- Independent Technical Report available on the website
Full summary
Alkane Resources Ltd has updated the Mineral Resource and Ore Reserve estimate for its Costerfield Gold-Antimony Mine in Victoria, Australia. The total Ore Reserves have increased by 13.3% to 170 koz Au and by 40.2% to 15.0 kt Sb. The life of mine has been extended from 5 to 6 years, with production scheduled to 2032. The increase in Ore Reserve is net of depletion through production. The growth in resources and reserves is attributed to exploration and grade control processes within various zones and rising gold price assumptions. The announcement is accompanied by an independent Technical Report produced in accordance with NI43-101.
Guidance
Ore Reserves increased by 13.3% Au ounces to 170 koz Au and Sb tonnes by 40.2% to 15.0 kt Sb
Outlook
The demonstrated life of mine has been extended to 6 years with production scheduled to 2032.