Doray Minerals Ltd (ASX:DRM) has announced its updated Resource and Reserve estimate as at 30 June 2016.
The company’s updated estimate includes a 17% increase to its Group Mineral Resource Inventory, which now totals 1.38 million ounces of gold – across the Andy Well and Deflector Projects.
Doray says that it has increased the total Andy Well Resource Inventory by 33% over the last 12 months.
The gold miner says, since August 2013, the Andy Well has produced over 250,000 ounces of gold and has at least a further 2 years of Reserves remaining.
Doray reported a net profit of $14.5 million at 31 December 2015.