A commitment has been made to the development of the Kutema Deeps deposit at the Orivesi Gold Mine in Finland, by Dragon Mining (ASX: DRA).
Kutema Deeps has a 150,900 gold ounce indicated and inferred resource which the company says represents a substantial medium to high grade depth extension below the existing decline at Kutema.
Kutema was mined for ten years until 2003, producing 422,000 ounces of gold from a series of near vertical pipe-like lodes down to 720 metres.
Peter Cordin, executive chairman, said “The commitment to the development of Kutema Deeps is another important milestone for Dragon Mining as this resource will provide for a five year mine life at Orivesi."
An internal study completed on Kutema Deeps shows a robust project with a significant return on capital over the next five years.
The Orivesi Gold Mine is located 80 kilometres northeast of the Vammala Production Centre.