HomeGoldAngloGold announces higher gold resource in Australia

AngloGold announces higher gold resource in Australia

At work on
gold project
in Western
Perth, Australia — MININGREVIEW.COM — 27 January 2009 – AngloGold Ashanti Limited – one of the world’s top gold producers with 21 operations on four continents – has announced a one-million-ounce increase for its Tropicana gold project in Western Australia.

The announcement was made here by AngloGold Ashanti Australia Limited, which owns 70% of and manages the Tropicana gold project, located 330 km east-north-east of Kalgoorlie in Western Australia.

The measured, indicated and inferred mineral resource for the project now stand s at 75.3 million tonnes, grading 2.07 grams/tonne for 5.01 million ounces of gold. The new estimate is predominantly in the measured and indicated category, providing a higher level of confidence.

AngloGold Australia reports that drilling completed subsequent to the mineral resource estimate has resulted in high grade intersections outside of the mineral resource shell, and drilling scheduled for early 2009 is likely to result in further additions to the mineral resource in the area.
It adds that the mineral resource increase has been driven predominantly by extensions to mineralisation identified by ongoing drilling, and to a lesser extent by increases in the gold price.

A new mining plan and schedule is being developed to incorporate the increase in mineral resource. “Pre-feasibility work at the project – based on mining the Tropicana and Havana deposits – is expected to be completed in the June quarter this year,” the announcement reveals. “This study is examining a range of treatment rates which would produce between 250 000 and 420 000 oz pa over a mine life of 10 to15 years.”