The Leonora Gold Project has 745,000oz of JORC compliant gold resources, of which 533,000oz are in the Indicated category and 212,000oz are in the Inferred category. The combined resources have a total tonnage of 12.3Mt 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 in 2009 with Merton's Reward depleted by McDonald Speijers
in 2010
** Resource estimate by Runge Limited in 2009
with Bruno Grade Control depleted by Runge in
2010
*** Resource estimate by Navigator in
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.