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Ramelius increases gold resources in Western Australia

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(Kitco News) - Australia-focused gold miner Ramelius Resources (ASX: RMS) today announced that as at 30 June 2021, its mineral resources were up 15%, after mining depletion.

The company’s total mineral resources are estimated to be 110 Mt at 1.6 g/t Au for 5.4 Moz of gold, and total ore reserves are estimated to be 17 Mt at 2.0 g/t Au for 1.1 Moz of gold.

Ramelius explained that increases in mineral resources were achieved via exploration drilling and resource additions at Ramelius’ Eridanus, Galaxy and Edna May gold projects in Western Australia.

The company said, “As in previous years, Ramelius’ ability to consistently meet production guidance has been underpinned by realistic resource modelling and deliverable reserve estimates.”

The company added that its ore reserves have been maintained, with mining depletions matched by additions. Studies on conversion of the new resources to reserves are in progress, Ramelius noted.

Ramelius Resources is a Western Australian gold producer that has been listed on the ASX since 2003 and in production since 2006. Ramelius currently operates the Mt Magnet, Vivien, Edna May and Marda gold mines and associated processing plants around Western Australia.

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