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Ramelius provide golden operations update

westgold

Ramelius Resources has provided an exploration update on its Penny mine and other exploration projects within its portfolio of gold assets in Western Australia.

The Penny gold mine is located approximately 150 kilometres south-east of the Mt Magnet operations and 550 kilometres north-east of Perth in WA.

Ramelius has reported that the Penny gold mine received its final ore haulage approvals on May 11, and its haulage schedule is in place to clear site stockpile by June 30. The operation has seen underground diamond drilling commence with visible gold seen in core outside southern boundary of Penny North’s mine plan.

Ramelius’ Bartus East site also saw diamond drilling continuing with results from shallow-angle holes including 60 metres at 7.82 grams per tonne (g/t) Au from 448 metres, with an estimated true width of approximately 45 metres.

The Mt Finnerty joint venture (JV) Ramelius shares with Westar Resources saw ongoing surface diamond drilling yielding recorded an excellent follow-up result of 8.70 metres at 13.4g/t Au from 173.5 metres.

Adjacent to the previously reported 13 metres at 4.37g/t Au and eight metres at 4.87g/t Au, Ramelius said further drilling is planned at the JV once structural interpretation is confirmed.

Ramelius managing director Mark Zeptner said the progress made on its various gold projects was satisfying.

“It is pleasing to have finally obtained the full ore haulage approvals for our high-grade Penny mine, which should see us clear the site stockpiles and mine production, in what promises to be our best Quarter for the financial year,” Zeptner said.

“In addition, our exploration and resource development teams continue to hit high grade material at Bartus East, which confirms similar wide, high-grade intercepts to those received late last year.

“Our Mt Finnerty JV with Westar Resources is also looking more and more interesting with additional high-grade hits and the geologists beginning to understand the controls to the mineralisation.”

The strong results seen from Ramelius’s gold portfolio comes as the company progresses towards a compulsory acquisition of Breaker Resources‘ remaining shares.

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