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    • Delayed Prices (USD) - Last Updated 04-07-2022
    • Gold $1,812.90
    • Silver $19.91
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    • Dalian Iron Ore i2209 $110.34
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    • Cobalt $72,460.00
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    Reach Resources declares 105,000oz gold maiden MRE at Blue Heaven

    Reach Resources (ASX: RR1) has released its maiden mineral resource estimate for the Blue Heaven prospect within its Primrose Gold Project in Western Australia.

    The JORC-2012-compliant inferred resource has weighed in at 1,035,000 tonnes @ 3.2g/t Au for 105,000oz Au, using a 1.0g/t cut-off grade. This includes a higher-grade component of 582,000 tonnes @ 4.7g/t Au for 87,000oz Au using a 1.5g/t cut off.

    A preliminary desktop optimisation study has indicated that a majority of the resource holds ‘strong potential’ for economic extraction, equating to 784,000 tonnes @ 3.6g/t Au for 92,000 ounces.

    “This Resource allows the Company to push ahead and fast track the potential monetisation of Blue Heaven”

    Addressing the update, Reach Resources Chairman Robert Downey said: “We are delighted to provide the maiden gold resource to the market for the Blue Heaven Prospect, at our flagship Primrose Gold Project in Western Australia. Converting the Company’s previously announced exploration target of approximately 170,000 to 520,000 tonnes @ a grade range of 2.2 to 4.5 g/t Au into an Inferred Mineral Resource of approximately 1.035 Mt @ 3.2g/t Au for 105,000oz is a fantastic result for all of our shareholders. This Resource allows the Company to push ahead and fast track the potential monetisation of Blue Heaven. Additionally, it provides confidence to commence additional drilling at the Company’s Pansy Prospect, which lies South of the Blue Heaven Prospect, and together form the Company’s Primrose Gold Project. It is certainly an exciting time for the Company and we look forward to 2022”.

    The company notes that a series of further ‘encouraging’ exploration upsides exist at Primrose including:

    • A conceptual exploration target at Blue Heaven estimated to encompass 0.963 to 1.925 Mt @ 2.0 to 3.2 g/t Au
    • Current mineral resource restricted to 100m depth due to insufficient detailed drilling at depth; and
    • Drilling at Pansy Pit, which is not included in this MRE.

    Moving forward, Reach Resources reports that it may begin a trial of small open pits across several high grade areas to assess the ability of narrow gneiss and mafic hosted quartz veins to be selectively mined. Ore would need to be of sufficient grade to justify transportation to a nearby mill for toll treating and/or heap leaching.

    Plans are also underway for additional infill and drilling along strike and at depth to improve the quality and quantity of the resource.

    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 04-07-2022
    • Gold $1,812.90
    • Silver $19.91
    • Platinum $891.00
    • Palladium $1,882.00
    • Dalian Iron Ore i2209 $110.34
    • Aluminium $2,444.00
    • Cobalt $72,460.00
    • Copper $8,048.00
    • Lead $1,934.50
    • Nickel $21,824.00
    • Tin $26,650.00
    • Zinc $3,029.00