INTERCEPTS Fri 22/08/2014

Reed winds up Meekatharra BFS

28th Feb 2012

PERTH, Feb 28 – Emerging gold producer Reed Resources is targeting production in the December 2012 quarter from its Meekatharra gold project in Western Australia after completing a positive bankable feasibility study.

The first stage development will be a 95,000oz pa multiple open pit mine to be developed at a cost of just A$35.5M by utilising existing 3Mtpa oxide processing facilities and infrastructure.

Subject to equity funding, the development will treat 2Mt @ 2g/t Au for 134,000oz over 19 months from the Bluebird, Whangamata, Batavia and Surprise open pits, all within a 6km radius of the mill at Yaloginda.

Geotechnical, hydrological, metallurgical, and environmental studies are under way for the Stage 2 development, due to begin in early 2014, drawing from eight reserves at Yaloginda and Paddy’s Flat to produce 6Mt @ 1.7g/t for 328,000oz.

A third stage under continuing evaluation would supplement the Stage 2 pits with ore from the Paddy’s Flat underground reserve for 2Mt @ 3.6g/t for 225,000oz.

Reed Resources is actively exploring brownfield and greenfield targets at Meekatharra for additional resources and reserves.



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