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Wolf Minerals (ASX:WLF) announced that geotechnical drilling on its Hemerdon project had been completed with results showing potential for steeper pit walls, as well as ore reserves increased by 15 to 23 percent.
According to the press release:
The drilling results indicate that an additional 4 to 6 million tonnes of ore may be available to be mined from the project and that there is the potential to increase ore reserves by 15 to 23%, as a result of steepening the open pit walls and broadening the open pit perimeter within the existing planning permission.
Russell Clark, managing director, said:
This programme was made possible through the funding received from the equity raise earlier this year and has been designed to add value through increasing reserves, mine life and therefore revenue. Initial analysis suggests this could be the case, and we will now undertake detailed design work and reserve re-estimation. We expect this work to be completed in January 2015.
Click here to read the Wolf Minerals Limited (ASX:WLF) press release
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