The Leonora Gold Project has 750,000oz of JORC compliant gold resources, of which 539,000oz are in the Indicated category and 211,000oz are in the Inferred category. The combined resources have a total tonnage of 12.4Mt at an average grade of 1.9g/t Au. Some of the individual deposits within the Leonora resource average out at nearly 3.0g/t Au.
There is substantial exploration upside at Leonora that could further increase reserves and resources and ultimately the life of the proposed mining operation.
* Resource estimate by McDonald
Speijers
** Resource estimate by Runge
Limited
*** Resource estimate by Navigator,
2009
Notes: Assay top cuts for Mertondale and Raeside
are variable but generally between 10-20g/t Au and are 15g/t Au at
Cardinia with no top cuts at Black Chief and Gambier Lass. No
allowance has been made for dilution or ore loss. All resources
(except Black Chief and Gambier Lass) are constrained by pit shells
optimised at A$2,000/oz.