Great Panther Mining Ltd has completed updated mineral reserve and mineral resource (MRMR) estimates for its 100% owned Tucano mine in Brazil. This updated MRMR has an effective date of 30 September 2020.
- Proven and probable (P&P) mineral reserves are now estimated to be 629 000 gold oz, of which 299 000 oz are opencast reserves. This represents a replacement of depleted reserves since the previous MRMR estimate.
- Measured and indicated (M&I) mineral resources, which are inclusive of reserves, now total 953 000 gold oz. In the Tucano opencast, M&I resources are 561 000 gold oz, an increase of 28% since September 2019.
- Inferred resources now total 534 000 gold oz.
- This MRMR reflects results of near-mine drilling up to the end of July 2020 focused on the TAP AB pits which represents approximately 2 km of the 7 km mining trend. Drilling of near-mine targets continued at TAP AB and Urucum in 2H20. Exploration drilling will continue on these targets and the area between TAP AB and Urucum in 2021.
- Three diamond drills and a one reverse circulation (RC) rig are working on near-mine resource definition/conversion. Ongoing rotary air blast (RAB) drilling is also targeting regional potential with the current focus being Mutum and Saraminda, two of seven regional priority targets.
Great Panther President and CEO, Rob Henderson, commented: "We have successfully replaced 2020 mining depletion and added an-other year to the mine life at Tucano. The updated MRMR estimate provides us with a higher level of confidence for future mine and operational planning and we are confident that, in parallel, we can unlock the larger potential of the region.
"Going forward we will be aggressively advancing opportunities for resource growth and mine life extension on multiple fronts," added Henderson. "We are actively drilling, both near the mine and in the extensive and largely under-explored regional land package."
Read the article online at: https://www.globalminingreview.com/exploration-development/21122020/great-panther-provides-exploration-update/