Ramelius flags new underground mine potential at Dalgaranga after high-grade hits

The latest announcement is out from Ramelius Resources Limited ( (AU:RMS) ).

Ramelius Resources has reported strong drilling results from its Dalgaranga project, highlighting high-grade intercepts at the Gilbey’s Underground targets West Winds and Four Pillars, as well as from the Plymouth-Sly Fox area. The company is working to extend mineralisation down-dip and convert existing Inferred resources to support potential new open pit and underground mines around Gilbey’s, adding to the current 6.9Mt at 1.9g/t for 380,000oz resource.

Management aims to use a future Gilbey’s Underground mine, alongside the existing Never Never Underground, to replace lower-grade mill feed currently scheduled for FY29 and FY30 and create upside to its targeted group production of about 525,000 ounces per year by FY30. The Plymouth-Sly Fox zone, not yet in the mine plan, could deliver an open pit cutback and a third underground branch, underscoring Dalgaranga’s role as a key growth platform and signalling potential value uplift for shareholders if these exploration targets are successfully converted into mineable resources.

The most recent analyst rating on (AU:RMS) stock is a Buy with a A$6.50 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.

More about Ramelius Resources Limited

Ramelius Resources Limited is an Australian gold producer listed on the ASX, operating mining and exploration projects including the Dalgaranga operation in Western Australia. The company focuses on expanding high-grade underground and open pit gold resources to support and potentially grow its medium-term production profile.

Average Trading Volume: 11,242,639

Technical Sentiment Signal: Buy

Current Market Cap: A$7.71B

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