Production and exploration deliver at Challenger

Dominion Mining has further reinforced the longevity of its 100%-owned....

  Dominion Mining has further reinforced the longevity of its 100%-owned Challenger Gold Mine in South Australia after announcing a further 23% increase in its gold reserves to 625,940 ounces against the backdrop of another strong quarterly production performance. Ongoing successful surface and underground drilling within the three main shoots at Challenger underpinned a substantial increase in gold reserves, as at 31 December 2007, to 2.7 million tones at 7.2 g/t Au for 625,140 ounces. Dominion Managing Director, Peter Alexander said this was another great result for the company, with the confirmation of the continuity of the main shoots at depth highlighting the continued success of the company’s exploration program." We now have sufficient reserves in place to underpin a mine life of more than six years at current production rates of over 100,000 ounces per annum,” Mr. Alexander said. “Moreover, we are confident of further improving this position as exploration continues to deliver outstanding results on a number of fronts." In the current strong gold price environment – and with a strong outlook for gold this year – we are exceptionally well placed to continue to deliver strong growth in shareholder value, particularly as our exploration programs continue to deliver growth in resource and reserve ounces,” he said." With a strong cash position, we’re looking ahead to another strong year of growth and development as one of Australia’s leading mid-tier gold companies.”