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Mandalay ups measured, indicated resource 52% at Bjorkdal gold mine

Mandalay Resources Corp. reported an about 52% increase, over the Dec. 31, 2015, estimate, in contained gold in the measured and indicated resource at its Bjorkdal open pit and underground gold mine in Sweden to 911,000 ounces, as of Sept. 30.

The indicated resource is contained in 11.8 million tonnes of material at 2.39 g/t of gold, while the inferred resource totals 3.6 million tonnes at 1.71 g/t of gold, according to a Dec. 15 release.

In the proven and probable reserve categories, contained gold increased about 40% to 586,000 ounces, contained in 10.8 million tonnes at 1.69 g/t of gold.

Mandalay recently revised its full-year production guidance downward to a total of 149,000 ounces to 152,000 ounces of salable gold equivalent, compared to previous guidance of 165,000 ounces to 180,000 ounces.