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Ramelius Resources updates gold reserves at Vivien, Mount Magnet mines

Ramelius Resources Ltd. said April 4 that it is working on a revised life-of-mine plan, expected to be completed within the next month, after updating reserves at its Vivien and Mount Magnet gold mines in Western Australia.

The life of the Vivien mine is expected to be extended to at least late 2019, the company said. Vivien hosts probable reserves of 525,000 tonnes grading 7.3 g/t of gold for 123,000 ounces of gold.

At Mount Magnet, the Brown Hill, Vegas, Stellar, Stellar West and Shannon deposits host probable reserves totaling 1.7 million tonnes at an average 1.7 g/t of gold for 94,000 ounces.

Ramelius has submitted a multipit mining proposal for the Mount Magnet deposits, which also includes the Milky Way deposit's 78,000 ounces of gold. In addition, resource modeling for the Morning Star deposit at Mount Magnet is nearing completion.

The company is planning underground diamond drilling at Vivien starting in late April, focused on testing for extensions to mineralization at depth.