Ord River updates Plutonic Resource

THE DRILL SERGEANT: Ord River Resources (ASX: ORD) has completed a review of the existing K2 resource model at the company’s Plutonic gold project in Western Australia.

The review involved remodelling the mineralisation envelopes at a higher cut-off grade in order to more accurately reflect a selective, underground, mining scenario.

According to the company the review has highlighted a high-grade resource beneath the existing K2 open pit as well as bulk, low-grade resources at K3 and K2SE.

 

K2 Main Lode block model and existing underground development. Source: Company announcement

 

A high-grade resource component has been identified beneath the existing K2 pit of 325,000 tonnes at 7.7 grams per tonne gold for 81,000 ounces of gold at a 3g/t cut off.

The review has enabled Ord river to revise bulk tonnage resources at the project to:

781,000 tonnes at 1.74g/t gold for 44,000 ounces of gold at 0.5g/t cut off at K3; and

1.6 million tonnes at 1.1g/t for 58,000 ounces of gold at 0.5g/t cut off at K2SE.

Ord River is confident the remodelled resources demonstrate a clear pathway to production utilising existing infrastructure.

The global resource for the Plutonic gold project now stands at 7.7 million tonnes at 3.13g/t gold for 778,000 ounces.

“The updated resource modelling of K2 will act to underpin Ord’s development plans for the Plutonic Dome gold project,” Ord River Resources managing director Frank Zhu said in the company’s announcement to the Australian Securities Exchange.

Ord River explained the resource is now divided into K2 (beneath the existing K2 open pit), K3 (north-west of the K2 pit) and the K2SE resource.

Previously K2, K2SE and K3 were grouped and reported as either open pit or underground resources.

The resource immediately beneath the existing K2 open pit will now be reported at a 3g/t cut off, as Ord said it believes the open pit cut back potential of the K2 pit is limited.

The K3 and K2SE resources will still be reported at a 0.5 g/t Au cut, although they will no longer be constrained within a conceptual pit shell to give a more complete representation of the total resource base.

Website: www.ord.com.au