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Strategic Minerals' gold resource at Woolgar's Big Vein South deposit up 21%

Strategic Minerals Corp. NL reported a 21% increase in the resource estimate for the Big Vein South gold deposit, part of the Woolgar project in North Queensland, Australia.

The resource now totals 24.0 million tonnes at 1.84 g/t gold containing 1.4 million ounces of gold, at a 0.75 g/t of gold cut-off.

According to the Dec. 21 release, the new indicated resource includes a 108% increase in tonnes and a 92% increase in gold ounces, but with an 8% drop in gold grade.