An updated resource estimate for NTM Gold Ltd.'s Redcliffe gold project in Western Australia increased contained gold by 94% to 537,862 ounces, with an initial estimate for the Bindy deposit and significant increases at the Nambi and Golden Terrace South deposits.
Bindy hosts inferred resources of 2.7 million tonnes grading 1.13 g/t of gold for 99,467 ounces, while contained gold increased by 165% to 137,696 ounces at Nambi and by 53% to 138,391 ounces at Golden Terrace South.
Overall, the property hosts indicated and inferred resources totaling 12.5 million tonnes grading an average 1.34 g/t of gold, using a 0.5 g/t cutoff grade. The estimate comprises oxide, transitional and fresh ore.
NTM Gold said June 12 that the update incorporates data from infill and extensional drilling, with further drilling planned in the second half of the year.
"We see significant upside beyond this resource, with many deposits still remaining open, as well as the potential for new discoveries with a sizable portion of Redcliffe unexplored," Managing Director Andrew Muir said in the statement.
