Business
Resource Update
Resource Update.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n Mercator Gold PLC\n18 September 2006\n\n\n MERCATOR GOLD PLC\n ('Mercator Gold' or the 'Company')\n\n Indicated and Inferred Gold Resources\n at Bluebird Increase to 546,000 ounces\n\n\n\nLondon 18 September 2006 - Mercator Gold PLC (AIM:MCR) is pleased to announce a\nsignificant increase in gold resources at Bluebird.\n\n\n• Exploration drilling at Bluebird within the Yaloginda mine area has\nestablished indicated and inferred gold resources of 10.1Mt @ 1.7g/t for 546,000\nounces.\n\n• The Indicated Category has increased by 302,000 ounces from 2.0Mt @ 1.6g/t \nfor 106,000 ounces to the new value of 7.9Mt @ 1.6g/t for 408,000 ounces.\n\n• The additional gold resources, calculated by Mercator Gold's independent\nresource consultants, lift the total indicated and inferred gold resources of\nthe company to 42Mt @ 1.6g/t for 2,160,000 ounces.\n\n\nBluebird Resource\n\nThe Bluebird (including Bluebird North) deposit occurs as quartz-veins within a\nhigh-magnesium basalt host rock in a carbonate-altered shear zone. Mercator\ncommissioned Cube Consulting Pty Ltd (Cube) to provide independent resource\nevaluations for Bluebird. At Bluebird the mineralisation is steeply dipping\nwith plus 2g/t Au high-grade zones, with surrounding and proximal low-grade\nmineralisation based on a 0.4g/t cut-off.\n\n\nThe resource figures are summarised in the table below:\n\n\nTotal Bluebird Global Resource all gold within +0.4g/t Au wireframe\n\n Category Tonnes Gold g/t Metal (oz)\n Indicated 7,939,000 1.6 408,000\n Inferred 2,253,000 1.9 138,000\n TOTAL 10,192,000 1.7 546,000\n\n\n\nThe global Indicated resource has increased by 302,000 ounces from last year's\nMercator announcement of 2.0Mt @ 1.6g/t for 106,000 ounces.\n\n\nThese revised resources lift the Company's holding to over 2 million ounces,\ncomprising Indicated Category 26.2Mt @ 1.7g/t for 1,401,000 ounces and Inferred\nCategory 15.8Mt @ 1.5g/t for 759,000 ounces. The Company's combined Indicated\nand Inferred Resources are 42Mt @ 1.6g/t for 2,160,000 ounces.\n\n\n\nEvaluation and feasibility\n\nMercator Gold is currently involved in detailed studies to determine the optimal\nmining parameters and economics for the Bluebird, Surprise and Paddy's Flat\nresources. These include studies on the metallurgical recovery, mining methods\nand scheduling of multiple sources of ore. Generall...