Company News Summary
Independence Group Announces Tripling in Size of Bibra Resource at Karlawinda
Original announcement: Karlawinda Gold Project - Bibra Resource Tripled in Size
Independence Group announced the completion of an updated mineral resource estimate for the Bibra deposit within the Karlawinda gold project. The inferred mineral resource estimate for the deposit has increased by 207% to 674,300oz of contained gold, more than triple the size of the previously reported 219,900oz. The company also reported that the scoping study is well-advanced. It is being undertaken on the basis of both a carbon-in-leach (CIL) processing scenario and a heap leach scenario. The CIL scenario is due for completion in the September 2012 quarter. Heap leach test columns were set up in June 2012. Open pit mining studies and process engineering design work have also commenced.
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