Reach Resources Confirms 61K Oz Gold Resource at Blue Heaven

Reach Resources Limited ( (AU:RR1) ) has issued an announcement.

Reach Resources Limited has announced the completion of a Mineral Resource Estimate (MRE) for the Blue Heaven deposit at Murchison South, confirmed by independent consultants Mining Plus. The deposit, with a resource of 681,000 tonnes at 2.8 grams per tonne for 61,300 ounces of gold, shows potential for shallow, open-pit mining. With a strong gold market and a spot price significantly higher than the pit shell price used in the MRE, the company sees considerable upside potential. The majority of the resource is classified as indicated, with mineralization starting from the surface and remaining open along strike and at depth. The company is also conducting metallurgical test work, achieving a 97% recovery rate, and is in discussions for processing partnerships.

More about Reach Resources Limited

Reach Resources Limited is a company involved in the mining industry, focusing on the exploration and development of mineral resources. The company is listed on the Australian Securities Exchange under the ticker symbols RR1 and RR1OA.

YTD Price Performance: -9.09%

Average Trading Volume: 10,024,423

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$7M

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