Resource and Investment (ASX:RNI) has expanded its drilling programme at the Grosvenor project in Western Australia with a view to boost its existing gold resource and reserve inventory.
It has started the new 3,000 metre reverse circulation drilling program at the Callies and Toms pits near the 1 million tonnes per annum nameplate Grosvenor gold plant.
This expands upon the greenfields drilling program undertaken on priority gold and base metals targets across the roughly 1800 square kilometres tenement.
Drilling will also focus on the Labouchere pit and the advanced Regent, Messiah and Emperor gold targets, located about 8km north of the Grosvenor plant.
The new drilling program aims to increase both the resources and reserves at the Grosvenor project and follows an independent review of the prospectivity of RNI’s Grosvenor project by Geologists OMNI Geox.
The Grosvenor project hosts total JORC compliant in-pit resources of 1.25 million ounce based on 18.9 million tonnes at 2.05grams per tonne.
JORC compliant proven and probable reserves at Grosvenor stand at 275,400 ounce, based on 4.2 million tonnes at 2.04g/t.
Separately, it is also planning a follow up drilling programme at the Jacques gold discovery, which is within the Morck’s Well group of tenements, directly adjoining Sandfire Resources’ Doolgunna project.
It is also awaiting the assay results from the first phase drilling program at the Orient gold and base metals target.
It had a cash balance of $2.11 million at the end of the quarter ending 31 December 2012.
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