--QUOTE from RMS.AX news release--
Friday 24 August 2007
SUPER HIGH GRADE GOLD RESULTS FROM RAMELIUS’ WATTLE DAM GOLD MINE - West Australia
Super high gold grades – including one intersection of nearly seven kilograms per tonne – have been announced from new drilling at a producing gold mine in Western Australia wholly owned and operated by Ramelius Resources Limited.
The results include gold grades of 6.8 kilograms (217 oz) per tonne and 3.7 kilograms (118 oz) per tonne as well as intersections of several hundred grams per tonne.
The intersections were encountered during resource extension drilling by Ramelius at its Wattle Dam open pit mine, 25 kilometres west of Kambalda and within the Company's Spargoville Belt regional project area.
“These are extraordinary gold grades,” Ramelius’ Managing Director, Mr Joe Houldsworth, said today.
“There is little doubt they are amongst the highest ever recorded in Australia's rich and long gold exploration history,”Mr Houldsworth said.
“We have now confirmed that Wattle Dam has the potential to be a high grade underground mine and further drilling to extend this super high grade gold zone will commence in the near future.”
Ramelius Chairman, Mr Robert Kennedy, said“the super high grade intersections significantly enhance the rate at which the Company could now entrench its position as an established gold producer, after commencing first production last year.”
“These emerging grades point to Wattle Dam being a highly profitable operation,”Mr Kennedy said.
“Shareholders can expect to look forward to future expansion of the mine, supported by further exploration along the Spargoville Belt at our range of highly prospective locations exhibiting similar profiles to Wattle Dam.”
Several high grade zones
The results announced today are from the first assays of visible gold intercepts reported last month by Ramelius from Reverse Circulation drilling undertaken to evaluate a further cutback and underground mining potential at Wattle Dam.
Best intercepts include:
* WDRC 289 – 16 metres @ 482 g/t Au (uncut) from 123 metres down hole depth
- including 1 metre @ 6,770 g/t Au;
* WDRC 290 – 9 metres @ 454 g/t Au (uncut) from 132 metres down hole depth
- including 1 metre @ 3,687 g/t Au.
Mr Houldsworth said the strike length of super high grade mineralisation at Wattle Dam now exceeded 60 metres from a depth of 95 metres and remained open at depth.
A new diamond drilling program has now been scheduled to commence early next month to test down plunge and down dip of the mine's existing mineralisation.
Ramelius has also appointed consultants to progress the Wattle Dam mine development and to calculate resource and reserve estimates. |
