St Barbara (ASX:SBM) has reported a 20% increase in its 15-Mile Processing Hub Project mineral resource estimate (MRE) to 2.5 million ounces (Moz) of gold.
The updated estimate incorporates revised geological interpretations and enhanced estimation methodology. This includes additional historical drilling data from 436 drill holes totalling 71,000m across the 15-Mile, Old Mitchell, and Old Austen mines.
The company completed validation of drilling data from the mid-to-late 1980s that was not previously included in resource estimates.
CEO Andrew Strelein says the increase follows environmental permit approvals and the final investment decision on the Touquoy restart in April.
“This is a substantial increase in resources at 15-Mile Processing Hub that continues the momentum we have at our Atlantic Operations following the environmental permit approvals and the final investment decision on the Touquoy Restart in April,” Strelein says.
“The mineral resource growth of 0.5 million ounces is related to study work that now incorporates updated geological interpretations, a revised estimation methodology, and additional historical drilling data.”
The 15-Mile Hub now contains 62.4 million tonnes @ 1.2 grams per tonne gold (Au) for 2.5Moz. The company’s group MRE rises to 5.4Moz, including 2.9Moz attributable at New Simberi.
St Barbara transitioned from multiple indicator kriging to ordinary kriging estimation methodology due to increased data density and improved confidence in mineralisation geometry.
The enhanced geological interpretation improved definition of multiple mineralised lodes, particularly supporting larger optimised pit shells for the main Egerton-Maclean pit.
St Barbara will update its Prefeasibility Study for the 15-Mile Hub to enable an updated ore reserve estimate ahead of Feasibility Study completion expected in the June 2027 quarter.
The 15-Mile Processing Hub Project comprises Meguma-style orogenic gold systems hosted within metasedimentary rocks of the Goldenville Group in Nova Scotia’s Meguma Terrane.
Mineralisation occurs as disseminated sulphide-associated gold and quartz veining containing arsenopyrite, pyrite, and locally visible gold.
St Barbara is an Australian-based gold producer with Atlantic Operations in Nova Scotia, Canada, and the Simberi Mine in Papua New Guinea.
Write to JC Villarba at Mining.com.au
Images: Mining.com.au
