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Wednesday, 1st December 2004 (3905 views)

Australian mining firm Bendigo Mining has announced it has increased the resources at its central Victorian project by 11 million ounces.<BR/><BR/>Following a "lengthy evaluation" the amount of metal in the New Bendigo project was difficult to estimate.<BR/><BR/>In addition, due to the nuggety nature of the gold, traditional drilling was ineffective and bulk sampling was needed.<BR/><BR/>According to the Age, Bendigo is now confident its estimate is "fair and reasonable" and it now has a solid foundation to work from for further development.<BR/><BR/>Production is set to begin in 2005 at the site, beginning at a rate of 85,000 ounces of the precious metal per year and then building to 600,000 ounces a year over the next seven years.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7206989"/>

 

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