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Delta Lithium (18 RICHARDSON STREET, WEST PERTH Western)has upgraded the mineral resource estimate (MRE) for its Mt Ida project in Western Australia.
The miner described the MRE upgrade as “major” as it represents an 82 per cent increase in contained gold at the project.
“This is a wonderful result for Delta shareholders, reaffirming our long-held belief that the gold system at Mt Ida has significant scale and upside,” Delta Lithium managing director James Croser said.
“The Baldock is fast becoming one of the very few, large high-grade undeveloped gold deposits in WA in excess of 500,000 ounces.”
Mining approval has already been granted for Phase 1 open pit mining at Mt Ida, with significant potential for further resource growth now being tested as drilling gets underway.
“The commencement of open pit mining has been approved, and the underground approval with the department is submitted and pending,” Croser said.
“We are investigating the best options for Delta shareholders to crystallise value from our gold, which can then be applied to further developing our core lithium business.
“The efforts of Delta’s geology team have been tireless and driven toward this success. We have already started follow up gold drilling at Mt Ida to target resource growth beyond one million ounces.”