Ramelius Resources scores bonanza gold hit at Mt Magnet

THE DRILL SERGEANT: Ramelius Resources (ASX: RMS) announced a bonanza gold grade intersection from recently completed deeper drilling carried out beneath the shallow oxide Milky Way open pit near Mt Magnet in Western Australia.

Ramelius completed ten deep exploration RC drill holes and two RC re-entries at Milky Way targeting along strike, plus up and down dip of previously reported results of:

6 metres at 11.64 grams per tonne gold; and

7m at 11.29g/t gold.

The bonanza intersection from Ramelius’ new drill hole GXRC1345 has come in at:

22m at 55.05g/t gold from 112m, including 9m at 126.6 g/t gold.

“The latest drilling confirms excellent continuity of mineralised porphyry thicknesses and now a second area of significant high-grade gold mineralisation has been intersected, approximately 300 metres south of those previously announced,” Ramelius Resources managing director Mark Zeptner said in the company’s announcement to the Australian Securities Exchange.

“We remain excited by the potential life-of-mine extension of Mt Magnet that Milky Way may provide, and the next steps will include infill resource definition drilling in conjunction with further step-out exploration drilling south along the Milky Way Fault.

“The drilling programs will commence in the New Year as soon as necessary approvals are in place.”

In addition to the bonanza intersection, further broad intervals of gold mineralisation have been returned from within the Milky Way Porphyry, including:

GXRC1345
89m at 13.9g/t gold from 108m;

GXRC1337
46m at 0.49g/t gold from 140m;

GXRC1338
60m at 0.53g/t gold from 34m;

GXRC1341 
11m at 1.65g/t gold from 175m; and

GXRC1342
28m at 2.2g/t gold from 38m.

Ramelius said it was encouraged by the drill intersections as they demonstrate potential for a large tonnage mineralised porphyry within the broader Mt Magnet gold camp.

Email: info@rameliusresources.com.au

Website: www.rameliusresources.com