Ramelius extends Wattle Dam gold mine

Ramelius Resources has announced it is extending operations at the Wattle dam underground gold mine to 2013.

It has approved a new mine plan, which includes mining for Block C and Block D zones.

The plan would see mining a total of 216 000 tonnes of ore from Block D from June, and 129 000 tonnes of ore from Block C.

It is base don the extended lode interpretation from diamond drilling carried out over the last year.

Block D is expected to be similar to mineralisation in Block A and B.

Block C is predicted to be a lower grade.

The decline will reach Block D around August this year.

This annoucement comes on the back of gold settling at US$ 1487.70 per ounce after reaching an all time high of US$ 1487.90.

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