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Ramelius Resources sees gold


Ramelius Resources has provided an update on the operations of its Penny gold mine.

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

The update reported highlights such as the project’s mining progressing well with the first three levels of development and the first two stopes being completed. Cemented rock filling of the first two stopes has finished with the decline below the 1300 reduced level, where the 1306 ore drive has commenced.

A diamond drilling program is ongoing at the Penny north, and its first results include:

  • 6.1 metres (m) at 44.5 grams per tonne (g/t) Au from 141m
  • 1.7m at 106g/t Au from 252.4m
  • 2.1m at 131g/t Au from 278.6m
  • 4.5m at 75.2g/t Au from 302.5m
  • 5.0m at 36.8g/t Au from 315.4m

A drilling program will continue at Penny west with results expected to release in mid-June.

Ramelius Resources managing director Mark Zeptner said he was pleased to see the Penny gold mine make great progress from a mining, haulage and exploration perspective.

“With the full mining team in place, stoping well underway and the haulage cranking up to address the previous shortfall, an extremely strong finish to the financial year looms for Ramelius,” Zeptner said.

“We are also encouraged by the very decent exploration hits outside the current resource envelope that look like adding high margin ounces to the project and extending the overall mine life.”

The continued excellent production reported at the Penny gold mine comes almost a month after Ramelius Resources moved towards a full acquisition of Breaker Resources.

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