Ruia Mine has claims holding totalling 1,223 hectares comprising of 20 precious metal blocks and 10 base metal blocks.
Current Gold Project Status
The project uses heap leach pads which entails production of gold through a heap leach process which is defined as an industrial mining process to extract relatively low-grade ores at a comparably low cost. Ruia Mine utilises this benefit to extract the gold from its relatively low-grade bulk oxide ore with an average grade of 0.6/ton.
The current in-situ resource of more than 28 million tonnes at 0.57/t gold equates to 514,745 ounces giving a current in-situ value of US$824million at US$1600/ounce. If the current geological evaluation takes place to 300m the resource can easily be doubled, giving an immediate in-situ potential in excess of US$1.4 Billion.