How Did Tanami Gold Boost Central Tanami Resources to 2.8Moz?

Resource Growth at Central Tanami

Tanami Gold NL (ASX – TAM) has announced a significant update to the Mineral Resource Estimates (MRE) for the Central Tanami Project Joint Venture (CTPJV) in the Northern Territory, as of 30 September 2025. The total Mineral Resource now stands at 31 million tonnes grading 2.8 grams per tonne gold, equating to 2.8 million ounces. This represents an 18% increase in tonnage and a 9% increase in contained ounces compared to the previous estimate from June 2023.

The key contributor to this growth is the Groundrush Gold Deposit, which alone contains 11 million tonnes at 3.3 grams per tonne gold for 1.2 million ounces. The updated resource also reflects drilling success at other deposits, higher long-term gold price assumptions of A$3,500 per ounce, and improved metallurgical recoveries, particularly for refractory mineralisation.

Robust Methodology and Economic Assumptions

The updated estimates were compiled by MoJoe Mining Pty Ltd using revised geological models that better represent the mineralised systems. Mineral Resources have been rigorously constrained by pit and stope optimisations, applying deposit-specific cut-off grades and incorporating haulage to the existing Central Tanami mill site, benchmark operating costs, and processing recoveries. The approach satisfies the JORC Code’s requirement for Reasonable Prospects for Eventual Economic Extraction (RPEEE).

Processing assumptions include free-milling carbon-in-leach (CIL) circuits for most material and concentrate production for refractory ores. Metallurgical test work supports recoveries ranging from approximately 75% to over 90%, depending on oxidation state and deposit. Additional operating costs and capital expenditure for concentrate production have been factored into the economic models.

Joint Venture Dynamics and Future Outlook

The CTPJV is a 50/50 partnership between Tanami Gold and Northern Star Resources Limited (ASX – NST). Notably, Northern Star’s 50% interest is under agreement to be acquired by Mount Gibson Iron Limited, a transaction announced in July 2025. This ownership change could influence future exploration and development strategies across the 2,108 square kilometre tenement holding.

Several deposits within the project remain open at depth, including the Groundrush and Jims Gold Mine areas, suggesting further resource expansion potential. Ongoing drilling programs are planned to infill and extend current resource envelopes, while metallurgical test work continues to refine processing parameters.

Comprehensive Geological and Technical Data

The announcement provides extensive geological context, drilling data, sampling methodologies, and metallurgical assumptions for multiple deposits including ML22934, ML33760, EL26926, ML(S)167, ML(S)168, ML(S)180, EL28282, and others. Resources are classified as Measured, Indicated, and Inferred in accordance with the 2012 JORC Code, reflecting varying degrees of confidence based on data quality and drill spacing.

This detailed disclosure underscores the technical rigor behind the resource update and offers transparency for investors and stakeholders assessing the project’s value and development prospects.