GOLD EXPLORATION
Canadian gold producer Mandalay Resources has reported significant exploration success at its 100%-owned Björkdal mine, in Sweden, lifting the measured and indicated resource estimate 52% from 598 000 oz gold, to 911 000 oz as at September 30.
The Toronto-based company, which acquired the mine in 2014 from Elgin Mining for C$70-million, also reported a 40% increase in the reserves as of September 30, to 586 000 oz, which supports a mine life of about ten years (up from eight years previously), based on the 2017 production guidance range of 50 000 oz to 55 000 oz.
Please enter the email address that you used to subscribe to Research Channel. Your password will be sent to this address.
Don't have any login details?
Free Trial Access