GOLD RESOURCE: Detour Lake reserves jump to 15.6-M oz

ONTARIO - Detour Gold of Toronto says that reserves at its Detour Lake gold project 185 km northeast of Cochrane now contain an estimated 15.6 million oz of the yellow metal. The represents a 5% increase in proven and probable open pit reserves.

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ONTARIO - Detour Gold of Toronto says that reserves at its Detour Lake gold project 185 km northeast of Cochrane now contain an estimated 15.6 million oz of the yellow metal. The represents a 5% increase in proven and probable open pit reserves.

Global resources are up as well, using a 0.5 g/t Au cut-off and US$850/oz gold. Measured and indicated resources are 678.8 million tonnes grading 1.07 g/t Au and the inferred resource is 208.5 million tonnes grading 0.86 g/t Au. Total contained ounces are almost 29.0 million oz.

Detour Gold says the increased resources will allow it to extend the life of the mine to 22 years from 21 years with a milling throughput of between 55,000 to 61,000 t/d. There will also be an 8% reduction in the strip ratio from 3.9 to 3.6.

"The mineral reserve increase of 5% is the result of our successful 2011 infill drilling program, which targeted the western portion of the existing pit on a 40 by 40 metres drill spacing resulting in the conversion of inferred resources into reserves," said president and CEO Gerald Panneton. "With 15.6 million ounces in reserves, the Detour Lake deposit is projected to be Canada's largest gold mining operation."

Additional information is available at DetourGold.com.

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