Red 5 has updated the mineral resources and ore reserves for its two key gold projects in Western Australia.
The King of the Hills (KOTH) gold mine now has an updated total measured, indicated and inferred mineral resource of 96.5 megatons (Mt) at 1.4 grams per tonne of gold (g/t Au) for 4.5 million ounces (Moz) of contained gold. It also has a total proved and probable ore reserve of 69.5Mt at 1.1g/t Au for 2.5Moz of contained gold.
Red 5’s Darlot satellite gold mine in the Goldfields region of WA also received an updated total measured, indicated and inferred mineral resource and total proved and probable ore reserve.
Its total measured, indicated and inferred mineral resource is now 16.6Mt at 3.3g/t Au for 1.8Moz of contained gold, and its total proved and probable ore reserve is now 1.4Mt at 2.5g/t Au for 114koz of contained gold.
“The updated reserve and resource statement for 2023 (FY23) provides further strong support for the company’s ongoing mine plans in the Leonora district, as well as highlighting the exceptional quality of the King of the Hills (KOTH) orebody,” Red 5 managing director Mark Williams said.
“Across our KOTH and Darlot operations, total mineral resources now stand at 6.2 million ounces and ore reserves at 2.6 million ounces at June 30 2023, after accounting for mining depletion.
“KOTH continues to demonstrate exceptional capacity for resource and reserve growth, with surface and underground drilling to continue throughout the year to continue increasing the definition, understanding and size of the orebody, which remains open in all directions.”
Red 5’s 2023 reserve and resource statement comes as the company’s ongoing board renewal continues.