Roxgold Inc. (TSXV:ROG) reported an updated mineral resource estimate for the 55 Zone deposit on the Yaramoko property in Burkina Faso. There was a 94% increase In the Indicated category as well as a high conversion rate of inferred to indicated at higher grades than estimated in the initial resource estimate dated September 24, 2012.
As quoted in the press release:
- 94% increase in ounces of gold (“Au”) in Indicated Resource category at a 3 gram per tonne (“gpt”) cut-off to 679,000 ounces.
- The mineral resource estimate represents a high conversion rate of inferred to indicated at higher grades than estimated in the initial resource estimate dated September 24, 2012.
Roxgold Inc. President and CEO, John Dorward said:
We remain on track to grow the resource base at the 55 Zone which is one of our primary goals for 2013. Particularly pleasing was the substantial growth in the indicted resource category while still maintaining a class leading grade profile. This will form the foundation for our plans to further advance the 55 Zone. Our three staged strategy is proceeding according to plan and with a more robust updated resource in hand we can proceed with our development plans for the 55 Zone while continuing to add ounces down plunge.