Luiri Gold (ASX:LGM) is looking to lift its current 758,000 gold resource at the namesake gold project in Zambia to over 1 million ounces with its 2012 drilling campaign.
This would require the identification of additional inventory of at least 242,000 ounces of between 3.2 million tons at a grade of 2.5 g/t or 4.2 million tons at a grade of 1.9 g/t gold.
Phase One feasibility drilling consists of 3,000 metres of RC drilling to upgrade a portion of the existing Dunrobin resource to Measured Resource status.
Phase One drilling is underway and making progress.
Phase Two resource drilling, of circa 5,000 metres, will focus on growing the overall resource inventory from near‐surface extensions to known resources and the establishment of new resources.
Phase Three discovery drilling aims to define new targets from anomalies highlighted by the aerial survey, geochemical soil sampling and trenching results.