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Dragon updates mineral resources for Nordic mines

Dragon updates mineral resources for Nordic mines

Thu Jan 11 2018

 

ASX-listed Dragon Mining has updated its mineral resources for its Nordic projects, returning a combined total mineral resource of 13.6-million tons, grading 3. 3 g/t gold for 1.43-million ounces.

 

This represented a 2.28% decrease in tons and a 0.35% decrease in ounces after depletion for mining to September 30, when compared with the previous update on December 31, 2016, of 13.94-million tons grading 3.2 g/t gold for 1.44-million ounces that was reported in February last year.

 

With the completion of the mineral resource update, the updating of the group’s ore reserves is now also nearing completion. It includes the full optimisation of its Jokisivu gold mine, in southern Finland.

 

The updated mineral resource for its Orivesi gold mine, also in Finland, totals 260 000 t, grading 6.1 g/t gold for 51 000 oz at a 3 g/t gold reporting cutoff grade, representing a 65% increase in tons and 38% increase in ounces from December 2016.

 

The increase was ascribed to the successful drilling campaigns carried out in the project’s Sarvisuo and Sarvisuo West areas during 2017 and a change in the reporting cutoff owing to lower costs associated with shallower mining in the foreseeable future.

At its Jokisivu project, the company reported a 17% decrease in tons from its previous mineral resources update, totalling 2.08-million tons grading 4.3 g/t gold for 289 000 oz at 1.9 g/t gold.

 

Comprising material from two deposits, Kujankallio and Arpola and associated satellite deposits, the decrease was attributed to the change in the reported cutoff grade from 1.5 g/t gold to 1.9 g/t gold primarily following changes to costs and modifying factors.

 

However, when the updated mineral resource is compared at the same reporting cutoff grade as December 2016 of 1.5 g/t gold, tons decrease by only 2% and ounces increase by 1%, effectively showing that material mined in the nine months to September 30, 2017 had been replaced.

 

Dragon’s Kaapelinkulma gold mine also saw an increase in mineral resource, by 7% to 168 000 t grading 3.8 g/t gold for an unchanged 21 000 oz at a 1 g/t gold reporting cutoff grade.

 

Resources at the Fäboliden project and the Svartliden gold mine, in Sweden, remained unchanged.

 

Source: http://www.miningweekly.com/