Broken Hill Gold (ASX:BH6) said the Vertigo oxide heap leachable indicated resource at its White Dam gold project in South Australia increased 160% to 24,300 ounces of gold, with all mineralization outcropping or shallow and within an existing mining lease, according to a Monday Australian bourse filing.
The company said the global project resource has increased about 20% to about 120,000 ounces of gold, with indicated oxide contained ounces rising to 44,000 ounces.
Broken Hill added that a mining study is now underway on oxide heap leach material, with mine design and evaluation assessing the economics of restarting the Vertigo pit for extraction of oxide-only heap leach, with a pre-feasibility study to follow once remaining oxide resources are drilled and mineral resource estimates updated.
The company's shares rose 5% in recent Monday trade.