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Mutiny Gold Reports Significant Deflector Resource
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• Measured and Indicated Resources, increased by 600,000 tonnes;
• 50% increase in gold ounces in resource tonnes for an extra 115,000oz;
• 40% increase in resource copper tonnes for an extra 6,000t Cu metal;
• Significant portion of current resource now eligible for conversion to Reserve status within ongoing
Definitive Feasibility Study
Australian Gold-Copper resources company, Mutiny Gold Limited (ASX: MYG “Mutiny” or “the Company”), is
pleased to announce a significant upgrade in the Company’s gold resources at its flagship Deflector Project in
Western Australia.
The upgrade follows Mutiny’s highly successful 2011 drilling campaigns into the Deflector deposit that delineated
extensions of significant mineralisation both to the north and south of the previous resource, and which enabled
an upgrade of significant portions of the deeper West Lode mineralisation from Inferred to Indicated status.
The drill programs in 2011 focused on proving up an appropriate quantity of Measured an Indicated resources so
as to improve the Resource quality to a standard that would attract the interest of a first tier international bank,
and to ensure a robust resource capable of delivering a strong conversion to Reserves and to prove-up an initial
mine life. Mutiny recently announced that it has entered into a Project Finance Facility with Credit Suisse following
a no-fatal flaws review by the bank (see ASX announcement 10 November, 2011).
The upgraded resources detailed in the Table 1 below represent a 50% increase in the gold Measured plus
indicated Resources from 230,000oz Au to 350,000oz Au (the previous 1,500,000 tonnes at 4.8g/t Au has been
upgraded to 2,100,000 tonnes at 5.2g/t Au). The Measured plus Indicated Resources also contain an additional
6,000 tonnes of copper metal.
Table 1 Deflector Deposit Mineral Resources
* Note: Totals may appear incorrect due to appropriate rounding
Classification Tonnes
Au
(g/t)
Au
(oz)
Cu
(%)
Cu
(t)
Ag
(g/t)
Ag
(oz)
Measured 1,040,000 4.6 150,000 1.34 14,000 8.7 290,000
Indicated 1,060,000 5.7 190,000 0.79 8,400 5.9 200,000
Measured +
Indicated* 2,100,000 5.2 350,000 1.1 22,000 7.3 490,000
Inferred 1,300,000 4.5 180,000 0.5 6,000 3.2 130,000
Totals 3,400,000 4.9 530,000 0.85 29,000 5.7 620,000