Terrain Minerals Limited (ASX:TMX)
Perth, June 16, 2009 AEST (ABN Newswire) - Terrain Minerals Limited (ASX:TMX) Follows the receipt of positive pit optimisation studies; preliminary open pit designs have now been completed by AMC Consultants Pty Ltd on the Wonder North gold deposit at Bundarra and the Coogee gold deposit at East Kambalda.
At Wonder North, the preliminary open pit design contains:
Measured Resource: 350,400t @ 2.16g/t goldIndicated Resource: 342,000t @ 2.77g/t goldInferred Resource: 4,600t @ 3.72g/t gold
TOTAL: 697,200t @ 2.45g/t gold with 55,326 recoverable oz of gold. At A$1200 per oz the pit design indicates an operating, undiscounted cash surplus in excess of A$10.0m.
At Coogee, the preliminary open pit design contains 102,000t @ 3.82g/t gold, with 11,600 recoverable oz of gold. At A$1200 per oz the pit design indicates an operating, undiscounted cash surplus in excess of A$4.0m.
Further mining and operational studies are in progress to finalise the pit designs, determine capex requirements and acquire statutory mining approvals.
The two pit designs together with the previously announced open pit mining proposal at the Celtic gold deposit, Bundarra (ASX release 12/06/09) indicate a potential open pit mine production in excess of 83,000 oz of gold. A further open pit mine study is in progess over the Great Western deposit at Bundarra.
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