Tropicana increases resource

The massive Tropicana gold project has dramatically increased its mineral resources at the site.

According to Independence Group, which owns the mine in a joint venture with AngloGold Ashanti, Tropicana has increased its mineral resources estimate by an additional 1.48 million ounces of contained gold.

This now takes the total estimated resource up to 7.89 million ounces.

The increase is a result of drilling carried out this year, and greater confidence in the viability of a larger pit at Havana.

As of today, it has a measured resource of 2.03 million tonnes, an indicated resource of 4.78 million tonnes, and an inferred resource of 1.08 million tonnes.

Additional mining, metallurgical, and other investigations as part of the prefeasibility study are underway at the site and will be completed next year.

The two companies are still considering the economic trade offs between running the mine as an open pit or underground operation.

The operation is split 30/ 70 between Independence and AngloGold respectively.

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