Republic Gold (ASX: RAU) will begin a resource enhancement phase of drilling at the Amayapampa Gold Project in Bolivia, to extend the prospective northern zone and inferred resources to 10 years and above from the current 7 years.
Republic said the drilling will both seek to optimise the current mineral resource, and explore possible extensions to the orebody with the primary aim of increasing the reported ore reserve.
Neb Zurkic, technical director, said: “The recently completed feasibility study found that the Amayapampa Gold Project is a very robust project, and highlighted what the Company needs to do to turn this into Bolivia’s largest producing gold mine."
"With the announcement of the recent $6 million underwritten capital raising and the determination of the financing strategy we are now able to allocate the necessary resources to optimise and seek to expand the current mineral resource and ore reserve bases."
"The prospectivity at Amayapampa gives us confidence that both will be achieved”
In excess of 12,000 metres of drilling is planned with discussions currently underway to secure an appropriately qualified and experienced local drilling company for the campaign.
The drilling campaign will be phased and carried out with two rigs, with one will focusing on geotechnical drilling for foundations, pit stability optimisation and further metallurgical testing; while the second rig will focus on mineral resource development.
The drilling rigs sought will have dual purpose diamond core and reverse circulation capability to ensure the programme is completed before the commencement of ore mining at Amayapampa.