Trident Royalties pleased with MRE boost at Ramelius’ Rebecca gold project

Diversified mining royalty company Trident Royalties has today praised its partner Ramelius Resources for increasing the mineral resource estimate (MRE) at the Rebecca Gold Project in Western Australia.

AIM-listed Trident holds a 1.5% net smelter return in the project, which now has a JORC compliant MRE of 31 million tonnes (Mt) at 1.2 g/t for 1.2 million ounces (Moz) of gold, following a recent round of drilling.

This mineral resource update represents a 9% increase on the last estimate by the project’s former operator Apollo Consolidated, and it resembles a 22% increase in the indicated resource category with 1Moz now classified as such.

In addition, the drilling completed to date represents only a small proportion of the ongoing 75,000 metres programme, with a greater proportion of exploration drilling planned for FY23.

Trident CEO Adam Davidson said: “Ongoing infill and exploration drilling has continued to extend mineralised zones and improve resource confidence both within and outside of the current Rebecca optimised pit shell, as well as the Duchess and Duke deposits.

“With the mineral resource update based on only 9,070 metres from the planned 75,000 metres drill campaign, the prospects for future gold inventory increases are looking good for Trident’s royalty, with the ongoing drill programme continuing to provide wide and high-grade gold intersections as the project continues to move towards a development decision.”