Star Minerals Ltd (ASX:SMS) said on Monday that Greg Almond has resigned as chief executive officer of the company.
Greg was instrumental in taking Star Minerals through the IPO process and has increased the value of its flagship asset, announcing an indicated resource last month at the Tumblegum South Gold Project in the Gabanintha region of Western Australia.
The Star Minerals board thanked Greg for his work and dedication to the company and wished him best in his future endeavours.
READ: Star Minerals upgrades 60% of Tumblegum South gold resource to indicated category
Star has achieved a 5.8% increase to its total mineral resource estimate (MRE) at Tumblegum South, as well as an upgrade for 60% of the resource to the higher-confidence indicated category.
The revised estimate now stands at a total indicated and inferred mineral resource of 616,000 tonnes at a grade of 2.28 grams per tonne (g/t), amounting to 45,000 ounces of gold, with an indicated portion of 337,000 tonnes at 2.52 g/t for 27,000 ounces.
Notably, this is the first portion of the MRE to be upgraded to the indicated category, highlighting a higher degree of confidence in the company’s geological model.