Ramelius releases maiden Resource for Blackmans deposit

THE DRILL SERGEANT: Ramelius Resources (ASX: RMS) announced a maiden Mineral Resource estimate for the company’s Blackmans gold deposit, located 30 kilometres north of Mt Magnet in Western Australia.

The Total Mineral Resource has been estimated at 490,000 tonnes at 2.5 grams per tonne gold for 39,000 contained ounces.

Ramelius has completed initial scoping work it said suggests a viable open pit operation.

The company has commenced a more detailed evaluation as well as heritage and environmental work with a view to gaining all required permitting for an open pit mining operation.

The company has also received results from deeper exploration drilling, carried out in May 2015 below the resource estimate envelope, including:

BMRC0053
10 metres at 15.76g/t gold from 104m in; and

BMRC0048
10m at 3.81g/t gold from 63m;

“The Blackmans project has the potential to provide a valuable source of oxide ore for the Mt Magnet operation,” Ramelius Resources chief executive Mark Zeptner said in the company’s announcement to the Australian Securities Exchange.

“Evaluation and permitting work on the project is already underway with a target of adding Blackmans 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 we have some excellent intersections that currently sit outside the Mineral Resource highlights the potential positive impact that this project may have on the company’s future gold production.”

Email: info@rameliusresources.com.au

Website: www.rameliusresources.com.au