Review paves path to production at Plutonic Dome

ORD River Resources says a review of the K2 deposit at the Plutonic Dome gold project in Western Australia has highlighted a high-grade resource beneath the existing open pit.
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Andrew Duffy

The revision has put the resource beneath K2 at 325,000 tonnes at 7.7 grams per tonne gold for 81,000 ounces, at a 3gpt cut-off.

Bulk low-grade resources at K3 have been put at 781,000t at 1.7gpt for 44,000oz and K2SE stands at 1.6 million tonnes at 1.1gpt for 58,000oz.

The company said the high-grade K2 resource had been optimised for underground mining methods, with limited potential for open pit mining.

It said the remodelled resources demonstrated a clear pathway to production using existing infrastructure.

"The updated resource modelling of K2 will act to underpin Ord's development plans for the Plutonic Dome gold project," Ord managing director Frank Zhu said.

Ord said the global resource had increased more than 10% since it announced plans to farm into the joint venture in November.

The global resource now stands at 7.7Mt at 3.1gpt for 778,000oz.

Ord shares were up 25% to A0.5c this morning.