South Africa's AngloGold Ashanti and Perth-based Independence Group have lifted the resource estimate for their Tropicana gold joint venture project 330km east of Kalgoorlie.

The companies announced today the mineral resource estimate for Tropicana had increased by 1.48 million ounces to 7.89 million ounces of contained gold after further drilling.

AngloGold Ashanti said detailed mining, metallurgical and other studies were underway and would be completed next year, with a view to updating the ore reserve again.

A pre-feasibility study would also investigate open pit versus underground mining options and provide recommendations on the best approach.

Project operator AngloGold Ashanti holds a 70 per cent stake in Tropicana while Independence has a 30 per cent interest.

AngloGold Ashanti's ASX listed shares were unchanged at $5.99 at 10.45am while Independence shares were down 4.5 cents at $4.495.

Related links:

AngloGold Ashanti

Independence Group