Business
New Resources at Euro and Bat
New Resources at Euro and Bat.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n RNS Number : 2549Z Mercator Gold PLC 17 July 2008 \n \n\n\n\n\nMERCATOR GOLD PLC\n('Mercator Gold','Mercator' or 'The Company')\n\n\nNew Resources at Euro and Batavia Projects\nAnd Convertible Loan Note \n\n\n\n\nMaiden Euro project resource of 83,600 ounces of gold\n\n\n\n\nSimilar structural features to the south of Euro under investigation\n\n\n\n\nMaiden Batavia project resource of 24,200 ounces of gold\n\n\n\n\nWork on Batavia reserve on-going and Mining Lease application well advanced\n\n\nLondon, 17 July 2008 - Mercator Gold plc, the growing gold producer with operations in the historic Meekatharra Goldfield in Western Australia, is pleased to announce maiden resources for the Euro and Batavia projects. \n\n\nEuro Project\n\nA resource of 2.038Mt at a grade of 1.3 g/t for 83,600 ounces of gold ('Au') has been estimated for the Euro project, which lies approximately 7km SE of Mercator's Bluebird processing plant. \n\nThe Euro resource estimate is based primarily on drilling conducted earlier in the year (see announcements 15 May 2008 and 19 September 2007). The estimate was compiled by mining consultancy, Runge Limited, and complies with the JORC Code.\n\nFurther work at Euro will be oriented towards bolstering this initial resource estimate by targeting additional deeper level, higher grade material. \n\nIn addition, the prospectivity of similar structural features identified immediately south of Euro by the recently completed gravity survey is currently being investigated. \n\n\n \nEuro Resource Estimate - reported above 0.5g/t Au cut-off \n \n\n\n\n\nType\n\n\nInferred Tonnes\n(T)\n\n\nGrade\n(g/t)\n\n\nAu\n(oz)\n\n\n\n\nOxide\n\n\n324,000\n\n\n1.0\n\n\n11,000\n\n\n\n\nTransitional\n\n\n1,156,000\n\n\n1.2\n\n\n47,800\n\n\n\n\nFresh\n\n\n558,000\n\n\n1.5\n\n\n 35,700\n\n\n\n\nTotal \n\n\n2,038,000\n\n\n1.3\n\n\n83,600\n\n\n\n\n\n\nBatavia\n\nAt the Batavia project, a resource of ...