New Gold Increases Grades, Upgrades Resources at Blackwater

New Gold Inc. (TSX:NGD, NYSE:NGD) announced a resource increase at its Blackwater Project.

As quoted in the press release:

• Measured and Indicated gold resources for direct processing increased to 8.6 million ounces at higher grade
• Measured gold resources increased by 44% to 3.9 million ounces at 1.04 grams per tonne

New Gold’s Executive Chairman, Randall Oliphante, said:

We are very pleased to now have the Blackwater resource finalized for our Feasibility Study, which remains on target for completion in late 2013. It is particularly gratifying to see that the classification of the resource has been further upgraded and the grades have increased.

To view the whole press release, click here.