Santana Minerals (NZE:SMI, ASX:SMI) updated its mineral resource estimate for its Rise and Shine deposit in its Bendigo-Ophir gold project in New Zealand, with the new indicated resources showing a 7% increase in grade to 2.52 grams per tonne of gold and a 6.4% increase in contained gold ounces, according to Tuesday filings with the Australian and New Zealand bourses.
It updated the estimate with results from infill drilling, including 28 drill holes for 7,060 meters at the deposit.
The new estimate includes indicated resources of 18.9 million tonnes at a grade of 2.5 g/t of gold for 1.5 million ounces of contained gold. Inferred resources came in at 7.6 million tonnes at 2.2 g/t grade of gold for 542,000 ounces of contained gold.
It will incorporate the new mineral resource estimate as well as a revised early mining strategy into an updated feasibility study.
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