Wednesday, 18th July 2007 (2100 views)

South African gold mining company DRDGOLD has reported an increase in its gold resources at its East Rand Proprietary mines.

Following estimations by ERPM, independent consultants Camden Geoserve and Minxcon, the company has reported a 150 per cent increase in its resources at this gold mining operation.

DRDGOLD reports that the gold resources have increased to 41.37 million ounces from the 16.58 million ounces reported in June 2006.

"These ounces, all on the 'dry' side of the water barrier, are a lifeline into the future for the mine, a real option with flow-through benefits for all of its stakeholders, not least the surrounding community," commented chief executive officer Niel Pretorius.

DRDGOLD claims that the new sum is made up of an additional 16.74 million inferred resource ounces at an average grade of 5.54 grammes per tonne and 8.32 million inferred resource ounces at an average grade of 9.06 grammes per tonne at a stope width of 125

 

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