Resources & Energy Group Limited (ASX: REZ), a gold explorer and miner focused on the East Menzies Gold Project in Western Australia, has announced an updated JORC (2012) Mineral Resource Estimate for the Goodenough Gold Deposit. The updated estimate reveals a significant increase in the gold resource at the East Menzies Gold Project.
The Goodenough Gold Deposit now boasts a Mineral Resource of 1.36 million tonnes at 1.40 g/t Au, containing 61,200 ounces of gold. This represents a 54% increase in tonnes and an increase of 15,090 ounces of contained gold compared to the 2020 estimate. A majority of the Mineral Resource is now classified as Indicated, accounting for 56,400 ounces.
The resource is constrained within optimised open pit shells, demonstrating reasonable prospects for eventual economic extraction. According to the company, the mineralisation remains open to the southwest, east and at depth, indicating potential for further resource expansion.
REZ Group Managing Director J. Daniel Moore commented, “This Mineral Resource upgrade is evidence of the continuous improvement at REZ as we enhance our systems and data management in a review of exploration and mining across the project… The mineralisation remains open to the southwest, east and at depth, giving clear opportunities to grow the Mineral Resource, and we look forward to the results of recently completed drilling and sampling.”
