From today's announcement: Planning is underway for a program of further closer-spaced drilling to lift the resource category to ‘Measured’ status and subsequently reserve category to ‘Proven’ status in the initial mining areas. This closer spaced drilling has the potential for an uplift in grade through the intersection of additional higher-grade vertical zones that are pervasive through the Awak Mas (Main) and Salu Bulo deposits. In addition, the Company believes there is potential to further extend the proposed Awak Mas (Main) and Salu Bulo pits. There is also potential to include the Tarra deposit and other areas of known mineralisation in the Contract of Work into a future mine plan. This represents a near term opportunity to extend the mine life or to support a staged expansion. The Company aims to provide a further Ore Reserve update incorporating the closer spaced drilling and other exploration work in Q4 2020.
NUS Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
