Updated Red Dam reserves at a 1 gram per tonne cut-off stands at 1.6 million tonnes at a fully diluted grade of 2.2gpt gold for 110,900 ounces.

Following an independent geological review, two development pathways have been identified for Kintore, with a conventional carbon in leach processing plant for high grade material producing a reserve of 2Mt at 1.3gpt for 86,100oz.

A heap leach processing plant for lower grade material has produced a reserve of 2.6Mt at 0.5gpt for 46,000oz.

The updated ore reserve for Carbine stands at 400,000 tonnes at a fully diluted grade of 1.7gpt for 23,800oz.

The projects are located in the Western Australian Goldfields, less than 50km from Kalgoorlie.

"Both Red Dam and Kintore are an integral part of the 8-10 year mine plan being developed and these new results continue the positive momentum for the definitive feasibility study, which is due for release shortly," Phoenix managing director Jon Price said.

The DFS and associated financial analysis is due for release early in the 2014 March quarter.

Along with the growth to Phoenix's reserves, total resources have also been boosted to 3.8Moz.

Phoenix shares were down 5.6% to A17c this morning.