THE BOURSE WHISPERER: Monto Minerals has released a revised Resource calculation for the Baal Gammon mine located within the Herberton Tin Field of Northern Queensland.
The new calculation was derived from a 28 hole diamond drilling program conducted by Kagara at the Baal Gammon mine, which was completed in October 2011.
The revised Baal Gammon Resource now stands at 2.8 million tonnes at one per cent copper, 40 grams per tonne silver, 0.2 per cent tin and 39 grams per tonne indium.
The drilling also identified a larger than anticipated high grade zone within the Baal Gammon Resource of 829,000 tonnes at 2.5 per cent copper, 96g/t silver, 0.4 per cent tin and 96g/t indium.
“The purpose of the Baal Gammon Resource calculation was to optimise the current pit design to ensure maximum recovery of the higher grade portions of the Resource,” Monto Minerals said in its ASX announcement.
“The identification of the larger than expected high grade Resource zone within the broader Baal Gammon Global Resource has enhanced the economics of the Baal Gammon mine with this material having been prioritised for production from the commencement of mining in late September 2011.
“Copper in this zone averages 2.5 per cent with significant silver credits of 96 grams per tonne.
“Investigations are continuing on the potential to recover tin.”
Baal Gammon ore is currently being processed at Kagara’s Mt Garnet plant.