RNG Activities Update - August 2010

Thursday, 09 September 2010 10:00

RNG_-_Activities_Update_-_August_2010.pdf

Highlights:

• September quarter production guidance of 8,000 – 10,000 ounces of gold reconfirmed.
• Underground mining contract awarded with mobilisation by late September 2010.
• Block modelling of remnant gold mineralisation at the Millionaires deposit determined a target mineralisation estimate of 507,826 tonnes at 2.73g/t Au for 44,573 contained ounces at 0.5 g/t Au cut-off grade.
• Expanded production options identified through preliminary pit optimisation studies on Ramornie North, Sarah and Morgans North - target mineable mineral inventory of 142,158 tonnes 4.34 g/t Au for 19,858 ounces of gold indicated.
• Grade control drilling of the King Street deposit has confirmed the potential of a small tonnage to be mined by open cut methods.