Vendetta Mining Corp. updated Pegmont resources in Australia with an increase in tonnage and grade in the indicated category alongside a moderate decline in inferred tonnage.
The new estimate defined 5.8 million tonnes grading 6.5% lead, 2.6% zinc and 11 g/t of silver in the indicated category, with 8.3 million tonnes grading 5.1% lead, 2.8% zinc and 8 g/t of silver in the inferred category.
That compares to a 2017 estimate outlining 2.2 million tonnes grading 5.6% lead, 2.6% zinc and 10 g/t of silver in the indicated category and 9.6 million tonnes grading 5.0% lead, 2.9% zinc and 8 g/t of silver in the inferred category.
Vendetta said the update includes an initial resource for the underground Bridge zone, which hosts indicated resources of 560,000 tonnes grading 9.5% lead, 2.5% zinc and 15 g/t of silver and inferred resources of 309,000 tonnes grading 8.7% lead, 2.5% zinc and 14 g/t of silver.
The new analysis used cutoffs of 3% combined lead and zinc for open pit resources and 5% lead-zinc for underground resources and incorporated 22,400 meters of additional drilling, according to the Aug. 9 statement.
Vendetta will use the new resource to underpin a preliminary economic assessment expected to be completed within six to eight weeks.