Doray releases maiden Judy reserve
THE CONFERENCE CALLER: Doray Minerals (ASX: DRM) provided jaded delegates a reason to get out of bed early for the opening session of Day Three at Diggers & Dealers.
The company announced an increase in the Mineral Resource and a maiden high-grade Ore Reserve for the Judy Lode deposit located immediately adjacent to the Wilber Lode underground mine at its Andy Well gold project, near Meekatharra, in Western Australia.
Location of the Judy Mineral Resource and proposed underground access to
the Ore Reserve area with respect to the active operations at Andy
Well. Source: Company announcement
The maiden Judy Probable Ore Reserve totals 203,000 tonnes at 8.8 grams per tonne gold for 58,000 ounces of gold.
Doray said this Probable Reserve anticipates mining of a section of the Judy South Resource area as part of the current Wilber underground operations at the Andy Well project.
The maiden Reserve represents a conversion of approximately 68 per cent of the Indicated Resource ounces at Judy South.
“Wilber started with a 3.7 year mine life – so the whole mine is designed around Wilber, but we always thought there was potential for more,” Doray Minerals managing director Allan Kelly told The Roadhouse.
“We found a second one at Judy and now the Reserve on Judy has replaced what we have already mined, which means we still have a 3.7 mine life after a year of operation.
“Suzie is look like it will be a third deposit and we are currently waiting on assay results from there, but we anticipate it being ready in another year or so.
“The BFS was based purely on the Wilber Lode, but we did have indications of Judy, which confirmed the possibility of multiple deposits.
“Since then we have found Suzie as well with others to come.”
Doray also provided an update on the first of a number of deep extensional diamond drill holes below the current base of planned mining at the Wilber deposit, which have intersected the Wilber Lode, with visible gold, approximately 160 metres below the deepest previous drilling.
A six hole diamond drilling program, aimed at increasing the depth of data coverage below the current Resource base and subsequent life of mine plan for the Wilber deposit, is underway.
The program is testing identified depth extension target zones below the current Resource.
The first hole of this program, MNDD159, was recently completed, and intersected the Wilber Lode vein approximately 160m down-dip from the deepest hole previously drilled.
The intersection returned an assay result of 0.9m at 57g/t gold from 762.9 to 763.8m.
“The deep step-out hole at Wilber is 160 metres below the bottom of the current mine plan,” Kelly explained.
“So that adds an extra 30 per cent on to what we already have, which is another year there, at least, as well.
“We have always said we have the potential for multiple deposits and increased mine life.
“We just have keep on doing the work, continue drilling and uncover more mine life.”
Email: info@dorayminerals.com.au
Website: www.dorayminerals.com.au