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Ramelius Resources has open pit gold potential at Western Australia project


Ramelius Resources (ASX:RMS) has intersected high grade gold at its Blackmans Gold Project in Western Australia.

Infill drilling had uncovered shallow, high grade gold that has potential for a new open pit operation just 30 kilometres north of Mt Magnet.

This allows any future ore recovered from Blackmans to be processed at the existing Checkers processing facility.

Notable results are:

- 9 metres at 31.9 grams per tonne gold from 41 metres including 3 metres at 91.9g/t gold;
- 7 metres at 4.53g/t gold from 53 metres including 1 metre at 28.2g/t gold;
- 20 metres at 2.43g/t gold from 56 metres including 1 metre at 24.4g/t gold;
- 25 metres at 7.61g/t gold from 6 metre including 3 metres at 40.4g/t gold;
- 15 metres at 2.50g/t gold from 40 metres including 1 metre at 17.6g/t gold;
- 14 metres at 4.78g/t gold from 81 metres including 1 metre at 46.5 g/t gold;
- 18 metres at 2.44g/t gold from 59 metres including 1 metre at 18.7g/t gold; and
- 13 metres at 8.27g/t gold from 23 metre including 2 metres at 32.8g/t gold.

Ramelius recently secured the remaining 25% of the Blackmans Mining Lease to give it a 100% interest.

The company then drilled 18 reverse circulation holes to test for lateral continuity to previous explorers’ high grade gold mineralisation.

Gold mineralisation at Blackmans can now be extended over at least 350 metres strike and is associated with surficial transported laterite overlying at least two subparallel steeply dipping lodes developed in oxidised ultramafic schists and clays. The gold mineralisation remains open down dip.

Assays have also been returned from reverse circulation drilling completed at the Coogee gold project, located south of Kalgoorlie in Western Australia.

A reconnaissance drill hole at Coogee intersected broad anomalous gold mineralisation and alteration; including:

- 6 metres at 0.62g/t gold from 29 metres;
- 23 metres at 0.38g/t gold from 42 metres; and
- 7 metres at 0.16g/t gold from 71 metres to end of hole.

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Quick facts: Ramelius Resources Limited

Price: 1.3975 AUD

Market: ASX
Market Cap: $921.86 m

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