(MENAFN - ProactiveInvestors - Australia) Noble Mineral Resources (ASX: NMG) has seen its gold reserves grow at its Bibiani Gold Project in Ghana from a new study undertaken by Coffey Mining.
The new ore reserves measure 912,000 ounces of gold. Noble's global gold reserves now stand at 16.0Mt at 1.9g/t gold. (972,000 ounces).
Total Resources at Bibiani are 51.4Mt at 1.7g/t gold for 2.8 million ounces.
The study, which was completed this week, focussed on four pit areas within the Project and included a comprehensive review of Noble's resources and updated geological models, pit designs and mine schedules.
The upgrade in reserves follows a previously announced 24% increase in total gold resources at Bibiani, after earlier resource modelling work completed by Coffey Mining.
Noble's main focus is on reaching target production levels of 150,000 ounces per annum.
Recently, Zhongrun Group, a major non-government Chinese mining and investment group annnounced it would invest A84.7m in Noble and become the company's largest shareholder.
In November 2009, Noble acquired the Bibiani Gold Mine, a project located in the Sefwi-Bibiani Gold Belt in Ghana, host to over 30 million ounces of gold.