Mining companies report significant gold resource expansions

Several mining companies have reported significant advancements in gold resource expansion and reserve growth through recent drilling and exploration programs.

In Western Australia, Horizon Gold reported substantial drilling results at its Gum Creek Gold Project. Reverse circulation drilling at the Howards prospect extended known mineralisation by 800 metres, while high-grade intercepts were also recorded at the Heron South and Melbourne Bitter targets. The project currently holds a total mineral resource estimate of 2.3 million ounces.

Ramelius Resources announced a 79 per cent increase in ore reserves, reaching 4.3 million ounces, following the discovery of nearly two million ounces of new gold. This growth supports the company’s goal of achieving an annual production of 500,000 ounces by FY30. Key hubs including Mt Magnet, Galaxy, and Cue saw significant resource increases.

Forrestania Resources also reported a resource upgrade at its British Hill project, increasing its gold inventory by 39 per cent to approximately 175,690 ounces. This was driven by deep, high-grade drilling results in the Yilgarn mineral field.

In New South Wales, Orbit Resources has commenced a new drilling campaign at its Lewis Ponds project. The company aims to expand its 1.7-million-ounce gold equivalent resource after assays confirmed mineralisation outside the current deposit footprint.