Exploration drilling and underground development continues at the flagship Lady Lina gold property of Antares Mining and Exploration (TSE) in Zimbabwe.
Antares hopes to complete a feasibility study by the end of April, which should result in a production decision.
By the end of October of last year, total reserves and resources on the Lady Lina joint venture property, near Gwanda, had increased to 2.02 million tonnes grading 4-4.6 grams gold per tonne, compared with 885,900 tonnes grading 7.8 grams at the end of January, 1994.
About 70% of Antares reserves can be milled using standard cyanidation, with gold recoveries estimated at about 85%. The remainder of the reserves are refractory, with recoveries estimated at less than 70% using standard cyanidation techniques.
Underground development for the third quarter increased to 990 metres, a 15% increase over the previous quarter. The increase was in part attributable to the implementation of a multi-blast program in September.
Total surface and underground exploration drilling in the third quarter also rose by 15% over the previous three-month period, to 4,957 metres.
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