The new resource estimate was generated following r ecent RC drilling conducted by Ramelius in December 2014 and February 2015 as well as previous RC drilling carried out by Harmony Gold in 2006.
Initial scoping work suggests a viable open pit ope ration and more detailed evaluation is now in progress. Ramelius has commen ced heritage and environmental work with a view to gaining all requi red permitting for an open pit mining operation.
Subsequent deeper exploration drilling, carried out in May 2015 below the resource estimate envelope, continues to return hig h grade gold intersections including:
- 10m at 15.76 g/t Au from 104m in BMRC0053, and
- 10m at 3.81 g/t Au from 63m in BMRC0048
Ramelius chief executive Mark Zeptner said: "The Blackmans Project has the potential to provide a va luable source of oxide ore for the Mt Magnet operation. Evaluation and pe rmitting work on the project is already underway with a target of adding Blackma ns to the life-of-mine plan in the 2016 calendar year".
"The overall production profile published by Ramelius does not currently include any contribution from Blackmans and the fact that w e have some excellent intersections that currently sit outside the Mineral Resource highlights the potential positive impact that this project may hav e on the Company’s future gold production".
