Saracen Mineral has announced a 60% increase in ore reserves for two of the five gold deposits at the Carosue Dam Operations in its South Laverton project in Western Australia.

The ore reserves rose to 580,000oz, up from 361,000oz, after the company’s detailed review and re-optimisation of its Porphyry and Whirling Dervish reserves.

Both increases are based on updated cost and gold price assumptions, the company said.

The increase in open-pittable reserves along with the inclusion of underground ore reserves has boosted Porphyry’s resource estimate, which is now thought to hold significant potential for additional underground resources.

Saracen has started reviewing two other stage 1 deposits, Enterprise and Deep South.

By staff writer