Riverstone Resources has announced that it has updated the possible extension of its Kao Deposit, which is part of the Karma project.
The project includes a NI 43-101 compliant in-pit Whittle inferred resource of 0.6 Moz of gold in 18.9 Mt grading gold of 0.93 g/t and an indicated resource of 1.6 Moz gold in 47.3 Mt grading gold of 1.1 g/t gold.
After the resource calculation, the company has completed further drilling of 54,616 m, totaling 293 holes at the Kao deposit. This program contains 21,623 m in 146 reverse circulation (RC) and 32,993 m in 147 diamond core (DD) holes.
Many different phases have been included in the post-resource drill program at the Kao deposit. Several deeper holes in the current resource region have been drilled to additionally expand the mineralization beneath the former drilling limits. A number of DD holes have expanded the deeper zones down-dip towards the eastern part.
An up-dated resource calculation will include these holes drilled at the Kao deposit and also the drill campaign completed at GGI and GGII. The company has scheduled to complete the estimate in September 2012.
Riverstone’s CEO and President, Dwayne L. Melrose stated that the company is encouraged by the latest drilling results and the prospective for the overall Kao deposit expansion.