HONG KONG (Yosefardi) – G-Resources Group Limited reported its Martabe Gold Mine has total Reserves of 2.68 million ounces of gold and 27.2 million ounces of silver, as at December 2014.
Total resources are now 7.4 million ounces of gold and 70 million ounces of silver. Additional Resources were defined at the Uluala Hulu deposit.
The total G-Resources Mineral Resource at 31 December 2014 is estimated at 190 million tonnes at 1.2 g/t gold, 11 g/t silver, for contained metal of 7.4 million ounces of gold and 70 million ounces of silver.
The total G-Resources Ore Reserves as at 31 December 2014 is 42.2 million tonnes at 2.0 g/t gold and 20 g/t silver for a total metal content of 2.68 million ounces of gold and 27.2 million ounces of silver.
The Ore Reserves occur within 3 open pits which contain an associated 64 million tonnes of waste material to be mined.
The Martabe mine is located on the western side of the Indonesian island of Sumatra in the Province of North Sumatra, in the Batangtoru sub-district.