Mutiny Gold announces high-grade gold Reserves for Deflector

THE BOURSE WHISPERER: Australian gold-copper resources company Mutiny Gold has announced a maiden JORC-compliant ore reserve and initial Life of Mine (LOM) production plan for the company’s Deflector gold-copper deposit in Western Australia.

The Deflector maiden initial ‘LOM production plan’ produces 450,000 ounces of gold equivalent including, 349,000 ounces of gold, 17,530 tonnes of copper and 429,000 ounces of silver.


Deflector deposit LOM production statement by Resource classification. Source: Company announcement


According to the company this LOM production plan includes reserves of 332,000 ounces of gold equivalent.

Mutiny Gold’s latest re-optimisation of Deflector contains mineral resources of 3.26 million tonnes at 5.1 grams per tonne gold, 6.01 grams per tonne silver and 0.82 per cent copper for 532,000 ounces of gold, 630,000 ounces of silver and 27,000 tonnes of copper.

Measured and Indicated Resources total 2.35 million tonnes at 4.7g/t gold, 6.82g/t silver and 0.90 per cent copper for 354,000oz of gold, 514,000oz silver and 21,000t of copper.

“We have forecast an initial life of mine of seven years for Deflector,” Mutiny Gold managing director John Greeve said in the company’s announcement to the Australian Securities Exchange.

“The recent highly successful exploration expansion results will see Deflector as potentially reaching a 10 year plus mine life.”

“Our Bankable Feasibility Study is nearing completion and the Mutiny team is keen to show the wealth of potential present at Deflector.

“We have a corporate goal of reaching 2.5 million gold ounces for Deflector, and with the upside present this is now firmly in our sights.”

Mutiny said the economic analyses came from a new updated resource model produced by using an Ordinary Kriged estimation using Micromine software.

The estimate includes a program of infill drilling completed by the company, but does not include recently reported high-grade intersections from the company’s 2012 exploration program.