RMS 3.05% $1.86 ramelius resources limited

Smoking Gun, hmm if RMS stays dirt dirt they might get...

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    Smoking Gun, hmm if RMS stays dirt dirt they might get smoked.


    Looking at there big picture they have stated a bigger open pit combining a few pits.

    But if they were swallowed, u might in fact see a Superpit developed.


    10 December 2018 Mt Magnet and Edna May Exploration Update Ramelius Resources Limited (ASX: RMS) is pleased to report the following highly encouraging in-pit and regional exploration drilling results recently returned from its ongoing Exploration and Resource Development drilling programs at Mount Magnet and Edna May. HIGHLIGHTS Mt Magnet ▪ Spectacular gold intersections returned below the Stellar pit including; o 20m at 645 g/t Au from 28m, including 7m at 1,271 g/t Au from 29m; and o 19m at 243 g/t Au from 29m, including 9m at 530 g/t Au from 31m (Figures 2 & 3) ▪ Significant broad zones of gold mineralization identified from deeper diamond drilling below the proposed Eridanus pit, including; o 23m at 3.98 g/t Au from 240m and 36m at 3.29 g/t Au from 375m in GXDD0075 with composited interval of 171m @ 2.0 g/t Au from 240m (refer Figures 4-6) ▪ Infill resource development drilling below the existing Lone Pine pit has returned significant high-grade gold mineralisation including; o 5m at 11.12 g/t Au from 39m; and o 17m at 5.01 g/t Au from 83m ▪ Potential for a larger Eridanus project than previously envisaged by combining Lone Pine and O’Meara pits with the current Eridanus open pit design plus new underground potential Edna May ▪ Encouraging RC results have been returned from the first exploration drilling around the historical Felstead’s Find workings southeast of Edna May including; o 9m at 2.07 g/t Au from 69m; and o 10m at 1.08 g/t Au from 53m (refer Figure 8) ▪ Reconnaissance Aircore drilling has returned anomalous 4m composite assay results around Felstead’s Find, up to; o 12m at 1.52 g/t Au from surface ▪ Encouraging early results with potential ore feed source for Edna May Ramelius Managing Director, Mark Zeptner today said: “The discovery of the bonanza intersections immediately beneath the Stellar open pit, at Mount Magnet, is testament to the ongoing potential for this operation to deliver extremely high grade plunging ore shoots within and proximal to the known ore systems. This reinforces our commitment to continual exploration at Mount Magnet in driving reserve replacement to ultimately grow the gold camp well beyond its recorded 6 million ounces of production.”



















 
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