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Tuesday, 24th March 2009 (3463 views)

Olympus Pacific Minerals has increased its gold resources in Vietnam, it has been announced.

The total of these now stands at 1.61 million ounces following an upgrade of resources at Bong Mieu East, part-owner of the firm Zedex Minerals has stated.

Olympus may be about to increase the total further, as it is shortly to start a recalculation of the amount of gold present at its Phuoc Son project.

The company was able to announce news of the increase in resources at Bong Mieu East after a study by Terra Mining Consultants and Stevens & Associates.

Measured and indicated resource totals at the site now amount to 145,270 ounces, of which the measured amount is 55,700 ounces.

Earlier this month Olympus Pacific Minerals announced that it had begun transporting high-grade ore from Phuoc Son by truck to Bong Mieu for treatment.

Chief executive at Phuoc Son David Seton said it made sense to "generate positive cash flow" by processing the material at Bong Mieu until its own plant is commissioned.

 

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