Besra Gold Inc. (ASX: BEZ) has announced an updated JORC-compliant Mineral Resource Estimate (MRE) for its Jugan Gold Project in Sarawak, Malaysia. The revised MRE totals 13.5 million tonnes at 1.7 g/t Au, containing 721,000 ounces of gold. This includes 209,000 measured ounces, 434,000 indicated ounces, and 78,000 inferred ounces. A key change from the 2012 feasibility study is the adoption of a hybrid mine development plan, combining a smaller open-pit with an underground component. Approximately 4 million tonnes at 2.05 g/t Au, or 263,000 ounces, are attributed to the underground component.
While the revised MRE is smaller than the 2012 estimate, Besra emphasizes its higher resource classifications. Eighty-nine percent of the MRE is now classified as Measured and Indicated, reflecting greater confidence in the resource. The quantum of Measured ounces has increased by 26% to 209,000 ounces, representing 29% of the total MRE. This shift reflects infill drilling conducted up to February 2025, which confirmed the surface footprint and enhanced grade control.
Matthew Antill, Managing Director of North Borneo Gold, stated that the updated MRE aligns with stakeholder expectations and is more likely to gain approval from decision-makers. The revised plan aims to minimize surface and environmental impacts, addressing concerns about land usage associated with a large-scale open pit operation. The next steps for the Jugan Project include geotechnical drilling (expected by June 2025), appointing a Bankable Feasibility Study Manager, conducting BSF-level metallurgical test work, and hydrogeological test work. These activities will run parallel to the construction and commissioning of the Jugan Pilot Plant, pending renewal of ML 05/2012/1D.
The independent MRE was undertaken by Widenbar and Associates Pty Ltd, incorporating ongoing drilling data. The estimate is based on 231 drill holes totaling 33,492.2m. The revised plan reflects a strategic focus on community expectations and environmental stewardship.
