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Excelsior ups Kalgoorlie North project resource to 825,000 gold ounces

Excelsior Gold Ltd. on May 22 updated the mineral resource estimate at its Kalgoorlie North gold project in Western Australia to 14.8 million tonnes at 1.7 g/t of gold for 825,000 contained ounces.

The company's open pit and indicated and inferred resource at the Zoroastrian deposit increased to 4.8 million tonnes at 2 g/t of gold for 314,000 contained ounces, with 77% of the resource in the higher-confidence indicated category.

Open pit and indicated and inferred resources at the Excelsior deposit now stand at 6.3 million tonnes at 1.4 g/t of gold for 273,000 contained ounces, with 84% in the indicated category.

Excelsior said open pit and underground mining studies are ongoing to define an ore reserve estimate for the Kalgoorlie project.