* Indicated reserve at 681,000 oz vs prior est 475,000 oz
* Says actively reviewing opportunities in the project
Dec 2 Crocodile Gold Corp CRK.TO said
indicated gold reserve at its project in the northern territory
of Australia increased by over 40 percent.
Toronto-based Crocodile Gold, which owns and operates mines
in Australia, said indicated gold reserve at Mt. Bundy project
was 681,000 ounces, up from its earlier estimate of 475,000
Mt. Bundy deposit is located about 15 kilometers to the
southwest of Crocodile Gold's Tom's Gully mine.
"Our exploration team is actively reviewing opportunities
in the Mt. Bundy project area as part of our overall strategic
review," Chief Operating Officer Dave Keough said.
Last month, Crocodile Gold posted a profit in its first
quarter of commercial production. [ID:nSGE6A70RU]
The company's shares, which have lost more than a fourth of
their value this year, closed at C$1.39 on Wednesday on the
Toronto Stock Exchange.
(Reporting by Aftab Ahmed in Bangalore; Editing by Vyas
(firstname.lastname@example.org; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging: