Resources & Energy Group Ltd. estimated a maiden JORC 2012-compliant resource for its Radio gold mine in Western Australia of 210,700 tonnes at 4.23 g/t of gold for 28,600 contained ounces.
The estimate includes an indicated resource of 50,300 tonnes at 4.55 g/t of gold for 7,400 contained ounces and an inferred resource of 160,400 tonnes at 4.12 g/t of gold for 21,300 contained ounces.
According to CEO Richard Poole, the Radio mine inventory boosted the company's total mineral assets, which includes the Mount Mackenzie deposit in Queensland, by 30% to 128,000 ounces of gold and 624,000 ounces of silver.
The company said July 3 that it has developed a surface drilling program to test the resource inventory immediately adjacent to the defined resource with step out holes that will increase the overall footprint of the Radio gold deposit.
Meanwhile, a third ore processing campaign is planned in July at the Minjar Marvel Loch processing facility.
Resources & Energy removed the first ore from the Radio mine in September 2017.