Mon Ami’s resource estimate is an inferred 1.1 million tonnes at 1.7 g/t gold containing 59,000 ounces, using a 1 g/t cut-off.
The resource estimate was undertaken by mining consultancy firm SRK Consulting Pty Ltd and careful management of costs has allowed Great Southern to achieve a discovery cost per resource ounce of less than $15.
‘Surpassed early expectations’
Great Southern executive chairman John Terpu said the maiden resource estimate represented a major milestone and surpassed early expectations.
Terpu said the company anticipated the resource to grow as further drilling is undertaken.
He added: “The resource remains open in all directions and to achieve this result based on the limited drilling to date is exceptional.
“We are fortunate to have a granted mining licence and to have extensive infrastructure nearby which offers flexibility and development options for the company.”
Terpu thanked Great Southern’s contractors and consultants in their work, singling out Great Southern head of exploration Bryce Healy for his efforts in delineating Mon Ami’s maiden resource.
Mining and metallurgical studies underway
Some of the mineralisation captured within the current model at Mon Ami remains unclassified and has been excluded from the resource estimate due to cut-off, drill spacing and depth.
Specifically, the resource estimate excludes a number of holes from Great Southern’s maiden drilling program which noted mineralisation below 150 metres.
Metallurgical test work and mining studies are underway and, having received the necessary approvals, the company plans to undertake an extensive infill and extensional drilling program to better understand the deposit and its potential.