' July 25 th 2018 Australian Securities Exchange Limited Via Electronic Lodgement DALGARANGA GOLD PROJECT OPERATIONAL UPDATE: MILL PERFORMANCE TEST COMPLETED AS RAMP UP CONTINUES The Process Plant Performance Test has been undertaken and passed, key aspects include: o Design Mill Throughput Rate of 2.5Mtpa consistently achieved o Overall Process Plant availability has exceeded expectations +95% month to date o Gold Recovery of +94% consistently achieved so far in July During the Process Plant commissioning, a total of ~7,400 ounces have been recovered to date. Mining Ramp Up is continuing, with maximum scheduled LOM mining rates expected to be achieved late in the current quarter. Commercial Production expected late in the current quarter or early next quarter. Delivery into the existing A$1,716 gold hedges has commenced. Cash Balance of A$25.1 million at the end of June. Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to provide an update on the commissioning and performance test of the new 2.5Mtpa processing plant and ramp up of operations at the Company’s 100% owned Dalgaranga Gold Project. Dalgaranga contains a Measured, Indicated and Inferred Resource of 31.1Mt @ 1.3 g/t for 1,320,000 ounces of contained gold, which is inclusive of Proved and Probable Ore Reserves of 15.3Mt @ 1.3 g/t for 612,000 ounces of gold (see Figures 1 & 2 and Tables 1 & 2 below). The Company remains focused not only on ramping up to full production, but also an ongoing aggressive exploration effort aimed at increasing the mine life towards 8-10 years, as well as progressing the Glenburgh Gold Project, the Company’s second +1.0 million ounce gold project in Western Australia......'
Well done GCY ! Can someone commends about its reserves please? Is it big? how big? able to compare with other goldies? thanks.
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