New Mineral Resource estimated by the geostatistical method of uniform conditioning (UC) for Fortitude results in a total of 4.8Mt at a grade of 2.3g/t for 356,000oz contained gold at a 1.0g/t cut-off grade grade is unchanged from the Companys estimate released in June 2007 while tonnage is down 8% due to greater selectivity in the new geological model. Assessment of the Fortitude gold project is underway based on the new Mineral Resource estimate and a Pit Optimisation study. A bulk resource was first estimated by the Ordinary Kriging (OK) method using a new geological wire frame model and this Resource was then used for the more selective UC estimate. The Company believes that the new Mineral Resource estimated by the OK and UC methods provide a valid base for ongoing mining and feasibility studies. The Company will carry out a Pit Optimisation study using the latest UC resource estimate to help determine if proceeding to feasibility studies is justified.
MDS Price at posting:
11.9¢ Sentiment: Buy Disclosure: Held
