www.mutinygold.com.au
Mutiny Gold (ASX: MYG) is a diversified resource company focused on the exploration and development of the company's gold, copper and nickel tenements in Western Australia.
Mutiny’s main focus is the Deflector gold copper deposit which is located within the Gullewa project where gold production is forecast from 2012.
Mutiny Gold new Deflector exploration to test strike extensions and resource upgrade
Mutiny Gold (ASX: MYG) will test for further strike extensions and a potential resource upgrade at the Deflector Gold-Copper deposit, in a new exploration program.
Mutiny is aiming to expand Deflector, which the company said potentially allows the production capacity to be increased beyond 100,000 gold ounces annually.
Drilling will include further infill drilling to improve the quality of the resource estimate to be used in the current Feasibility Study.
Mutiny said the study is considering an initial production profile of around 50,000 ounces of gold, 50,000 ounces of silver and 2,000 tonnes copper in concentrate annually over 10 years, and is currently scheduled for completion
by the end of September 2011.
Deflector already holds some resources in the higher confidence categories, with Measured 130,000 gold ounces and 12,000 tonnes of copper, and Indicated 105,000 gold ounces and 4,500 tonnes of copper.
The deposit contains a total resource of; 3.4 million tonnes at 5.4 grams per tonne (g/t) gold, 4.7g/t silver and 0.8% copper for 590,000 gold ounces, 510,000 silver ounces and 25,500 tonnes of copper.
John Greeve, managing director, said “Previous drilling results announced in March demonstrated that the high-grade lodes at Deflector extend at least 160m south and 100m north of the already delineated resources that are currently the subject of a Feasibility Study into both open pit and underground mining at Deflector, representing a 50% increase in the mineralised length of the deposit."
