Magnetic Resources is moving rapidly on the Lady Julie Project.
The Refined Feasibility Study will be the next step and as they say is now being increased to 2.75 mtpa and will probably produce 150,000 ozpa.
The recent deeper infill drilling has significantly increased resource confidence to a level that financiers will now endorse.
The updated Combined Mineral Resources Estimate is now 33.14 mt at 1.81g/t containing 1.93Moz of gold.
LJN4 open pit is now 17 mt at 2.1g/t for 1.15Mozs which looks to be the best new open pit project in Western Australia.
An 8 year mine life at 2.75 mtpa will only mine 66% of the current indicated and inferred ozs.
Ann: Increased Lady Julie Gold Resource And Project Update, page-4
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