(MENAFN - ProactiveInvestors - Australia) Bulletin Resources (ASX:BNR) has restarted drilling to redefine the resource base at its Lamboo gold project in Western Australia.
Further exploration is likely to add to the resource base currently at 5.6 grams per kilogram for 261,000 ounces of gold.
An independent study by Optiro Pty estimates the total potential of all exploration targets within the Lamboo project at about 4 to 7 million tonnes containing 0.7 to 1 million ounces at an average grade of 5.2 to 5.4 grams per tonne of gold.
The drilling program involves extensional drilling with primary objective being expansion of underground resource at Nicolson's and investigating the depth potential of the Wagtail and Nicolson's North deposits.
Optiro noted that the Nicolson's Find open pit mine is considered to have mineralisation extensions suitable for immediate open pit or underground mining development.
A treatment plant with a nominal capacity to process 10000 tonnes of ore per month, currently mothballed is also located at the project site.
Exploration targets have been identified at intersections beneath the main deposits of Nicolson's Find, Nicolson's South. Rowdies and Wagtail North, in addition to other targets along the Nicolson's shear zone.