Allied Gold Limited – Gold Reserves Increased at Simberi Gold Project

Allied Gold (TSX:ALG) reported that it has received new Proven and Probable Reserve Estimates for the Simberi Island gold deposits from consultants Golder Associates totalling 45.9Mt @ 1.46g/t Au for 2.15 million ounces of contained gold.

The press release is quoted as saying:

This is a substantial increase of 1.31 million ounces of gold ore equivalent to a 155% increase in Reserves. Previous Proven and Probable Reserves (September 2009) were reported as 22.0 million tonnes at 1.19g/t Au for 0.84 million ounces of contained gold.

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