Paramount announces higher resource at Gunung Rosa mine
Tuesday, January 29 2013 - 07:26 AM WIB
ASX-listed Paramount Mining Corporation Limited announced a new total Inferred Resource for the Gunung Rosa gold, silver and base metals mine in West Java, at 634,000oz Au, with significant silver and base metals credits.
The miner said in its latest operation update report that at a cut-off grade of 1.5g/t Au, the added Inferred Resource is 2,467,000 tons containing 436,000oz Au, 1,045,200oz Ag, 8,230t Cu, 13,020t Pb and 43,800t Zn.
The drilling program has improved the understanding of the geological controls and distribution of the mineralization, it said. The program also highlighted much wider zones of mineralization than previously determined and enabled assessment of changes in vein and breccia host width, alteration types and grades within the main mineralized zone.
The new Inferred Resource has only been determined for areas below the 900 meter reduced level. Areas above this were subject to earlier Inferred and Measured Resource estimation by Century Metals and Mining NL, and will be subject to new resource estimation when the old workings have been drained and reopened to enable new sampling to be undertaken.
Editing by Dadan Wijaksana