Business
Reserve Statement
Reserve Statement.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n Mercator Gold PLC\n20 June 2007\n\n\n \n\n\n Mercator Gold PLC\n ('Mercator Gold' or the 'Company')\n\n\n MINING RESOURCE TO RESERVE STATEMENT\n\n\nMercator Gold Plc has finalised mining and metallurgical studies on its\npreviously reported resources of Bluebird, Surprise, Prohibition and Vivian -\nConsols, all located in the Meekatharra region of Western Australia.\n\nThe Company is pleased to announce:\n\n • Probable reserves of 432,000 ounces of gold;\n • First production from the Surprise Open Pit scheduled late June 2007;\n • Yaloginda processing plant on track to treat initial ore 1 July 2007;\n • All key personnel to manage the Meekatharra Gold Operations have been\n sourced;\n • Mining contract awarded to Mining and Civil Australia.\n\n\n\n\nManaging Director, Patrick Harford, commented:\n\n'The Reserve base underpins our decision to recommence production at Meekatharra\nwith 432,000oz of Reserves. In addition, the ongoing Resources to Reserve work\ncurrently being undertaken at a number of locations will further strengthen the\ncompany's growth platform. We look forward to a truly profitable and sustainable\nfuture.'\n\nTable 1\n\nOPEN PIT PROBABLE RESERVES TONNES GRADE OUNCES\nBluebird 1,461,000 2.53g/t 119,000\nSurprise 827,000 2.35g/t 63,000\nSubtotal 2,288,000 2.46g/t 182,000\nUNDERGROUND PROBABLE RESERVES\nProhibition 1,372,000 4.06g/t 179,000\nVivian - Consols 233,000 9.54g/t 71,000\nSubtotal 1,605,000 4.85g/t 250,000\n TOTAL 432,000\n\nGrade is grammes per tonne. Ounces are Troy ounces. Small numeric differences\nmay occur due to number rounding. This applies throughout this release.\n\n\n\nTable 2\n---------------- ---------- --------- --------\nCURRENT RESOURCE TONNES GRADE OUNCES\nINDICATED & INFERRED\n--------------- ---------- --------- ---------\nMudlode 446,000 5.46g/t 78,000\n(3.0 g/t cut-off)\n--------------- ---------- --------- ---------\nFatts 180,000 3.65g/t 21,000\n(3.0 g/t cut-off)\n--------------- ---------- --------- ---------\nTOTALS 626,000 99,000\n--------------- ---------- --------- ---------\n\nNote: Mudlode and Fatts remain in the Resource category pending further access\nand stope design.\n\nMINING OPEN PIT\n\nSurprise\n\nThe Surprise open pit lies within 800 metres of the Yaloginda Carbon in Leach\n(CIL) processing plant. Pit Optimisations were conducted on the resource m...