Leagold Mining Corp. (LMC:TSX.V; LMCNF:OTCQX) announced in a news release three sets of data regarding two of its Brazilian mines: updated mineral resource and reserve estimates for RDM and Fazenda and drill result highlights for Fazenda.
As for RDM, when compared to the December 2017 estimates, the updated Measured & Indicated (M&I) mineral resources are up by 57 thousand ounces (57 Koz) whereas the updated Proven and Probable (2P) reserves are down by 41 Koz due to depletion.
The mine now has M&I resources of about 39.3 million tons (39.3 Mt), grading 1 gram per ton (1 g/t) and containing 1,259 Koz of gold. Estimated 2P reserves are 24.7 Mt, grading 1 g/t and containing 789 Koz of gold.
Similar to RDM, Fazenda's mineral reserves have decreased since the 2017 estimate, by 58 Koz, also from depletion. Today, 2P reserves are an estimated 5.4 Mt, grading 1.84 g/t and containing 319 Koz of gold. This equates to a roughly four-year mine life at today's mining levels.
Current estimated M&I resources at Fazenda amount to 7.5 Mt, grading 2.3 g/t and containing 558 Koz of gold.
Regarding drill results from Fazenda, the company noted they preliminarily demonstrated the chance to increase reserves and resources there, but stated that additional analysis must be done. The company aims to update the mineral resource estimates for Fazenda in 2019, incorporating into them results from the underground drill program completed this year.
That campaign, comprised of 38 holes for 5,964 meters, focused on three targets, two accessed from the C-ramp and one accessed from the E-ramp. C-ramp holes intersected mineralization, but the E-ramp holes did not, the company reported.
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