Auzex has announced an increase of its Bullabulling JORC resource by 450% to 1.98 million ounces of gold.
Speaking to Australian Mining, Auzex managing director John Lawton said “this is a great result for the company, and is higher than we expected.”
Lawton said that this amount comes from an inferred resource of 41.5 million tonnes at an average grade of 1.5 grams per tonne and was estimated using a .7 gram per tonne cut off, “ which is a high cut off grade.”
He stated that drilling occurred down to 120 metres below the surface, which is the nominal bottom of an open cut mine.
Additional drilling is expected to further increase the JORC resource, and move it from inferred to indicated/measured.
Auzex had previously recorded a resource of 431 600 ounces of gold.
The project is located in the Coolgardie Goldfield in West Australia’s eastern goldfields region.