After re-evaluating data at its gold property in Beatty Twp., Ont., Maude Lake Gold Mines (CDN) has calculated new reserve estimates of 813,414 tons averaging 0.24 oz. gold per ton.
Ore has been delineated from seven gold-bearing structures within the mine area. Total reserves above the 220-metre level are 510,116 tons averaging 0.25 oz.
These include: 96,166 tons in the proven category, averaging 0.22 oz.; 94,419 tons probable at 0.37 oz.; 81,339 tons possible at 0.18 oz.; and 238,132 tons drill-indicated at 0.23 oz.
In addition, new reserves have been calculated from the 5 zone (below 220 metres) and surface stockpiles. The 5 zone is estimated to contain 283,358 tons at 0.22 oz,. whereas stockpiled ore amounts to 19,940 tons grading 0.24 oz.
In addition to completing underground exploration on the new 1A zone discovery, Maude is planning a feasibility study and bulk sampling to define and increase proven reserves further.
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