Dragon Mining (HKG:1712) said it has updated its mineral resource and ore reserve estimates for key assets in Finland and Sweden, according to a Monday Hong Kong bourse filing.
At Finland's Vammala Production Centre, total resources now stand at about 3.1 million tonnes grading 3.2 grams per tonne (g/t) for 320,000 ounces. Kaapelinkulma saw an 11% rise in contained gold to 22,000 ounces following recent drilling. Ore reserves across the site remain steady at 1.2 million tonnes grading 2.3 g/t for 90,000 ounces.
In Sweden, Fäboliden's reserves rose 12% to 310,000 ounces, while resources climbed 5% to 1.1 million ounces. The increase follows updated modeling and reinterpretation of previous drilling.
Group-wide, Dragon Mining now reports mineral resources of about 15 million tonnes grading 3.0 g/t gold for 1.5 million ounces, and reserves of 4.5 million tonnes at 2.8 g/t for 400,000 ounces, the filing said.
Shares of the company closed 4% lower on Tuesday.
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