Star Minerals Ltd (ASX:SMS) has achieved a 5.8% increase to its total mineral resource estimate (MRE) at the Tumblegum South Gold Project in the Gabanintha region of Western Australia, as well as an upgrade for 60% of the resource to the higher-confidence indicated category.
The revised estimate now stands at a total indicated and inferred mineral resource of 616,000 tonnes at a grade of 2.28 grams per tonne (g/t), amounting to 45,000 ounces of gold, with an indicated portion of 337,000 tonnes at 2.52 g/t for 27,000 ounces.
Notably, this is the first portion of the MRE to be upgraded to the indicated category, highlighting a higher degree of confidence in the company’s geological model.
Amenable to shallow, open-pit mining
Star Minerals’ CEO Greg Almond expressed confidence in the project's potential, stating, "Successful drilling programs through 2021 and 2022 have highlighted the high-grade nature of the deposit, with gold grades of a calibre that are very appealing for shallow, cost-effective open pit mining."
Meanwhile, Star Minerals is actively progressing with toll treatment options for the Tumblegum mineral resource, aiming to maximise the project's value in line with the recent positive developments.
The company is also completing work on the Star of the East with an option to purchase that deposit due in the second quarter of this year.
Star Minerals is keen to receive results from the latest round of drilling at the Star of the East, given encouraging initial results.
At the same time, SMS will continue work in the Gabanintha area to continue to build the mineral resource inventory, and progress towards economic development.