Barra Resources Limited (ASX Code: BAR) is pleased to advise
the final parcel of 17,463 tonnes of ore from the upper
levels of the Burbanks Gold Mine has generated a profit to
Barra of $624,000 which has now been received.
Production results for the parcel were as follows:
Tonnes: | 17,463 |
Grade: | 3.7 grams per tonne |
Revenue: | $2,366,409 |
Mining/milling costs: | $1,123,718 |
Gold (ounces): | 2,082 |
The total income received by Barra pursuant to the 50/50
tribute mining agreement with Blue Tiger
Mining Pty Ltd totalled $ 1.18 million (unaudited).
The Directors are pleased with the final campaign result and
look forward to recommencing underground operations in the
first quarter of 2012.
The new tribute agreement with FMR Investments Pty Ltd will
extend the decline to depths below existing and historical
workings. This is the area of high grade historical drilling
results, in particular
4.7 metres at 462 grams per tonne.
The Company looks forward with great anticipation to
developing around the old 7 Level which had back sampling
grades of 76 metres at 17.4 grams per tonne over a 1.1 metre
width and 30 metres at
18.3 grams per tonne over a 1.5 metre width.
The information in this report which relates to Exploration Results and Inferred Mineral Resources is based on information compiled by Gary Harvey who is a Member of the Australian Institute of Geoscientists and a full-time employee of Barra Resources Ltd. Gary Harvey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Gary Harvey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Barra Resources Limited (ABN 86 093 396 859)Ground Floor, 30 Richardson Street, West Perth, Western Australia 6005
Telephone: (08) 9481 3911 Facsimile: (08) 9481 3955
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