The deposit holds another 240,000 oz. gold in the inferred category at 1.05 grams per tonne.
Osino ascribes the higher grades compared to the earlier estimate to applying more discrete resource modelling and adding higher-grade material via the drill bit during the last few months.
The new resource estimate comprises 93% of material in the measured and indicated categories, compared with the 77% previously.
Echelon Capital Markets analyst Ryan Walker pointed out in a research note the resource includes a higher-grade portion when applying a 0.9 gram per tonne cut-off grade, totalling 2 million oz. at 1.46 grams per tonne in 42.7 million tonnes.
It holds the potential for selective mining to yield a potentially “very meaningful impact” on eventual project economics, wrote the analyst.
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