The inferred 44,500 tonnes grading 11.9 grams per tonne for 17,100 ounces is principally contained in three major gold veins at the project, with a previous target suggesting the possibility for 50,000-250,000t at 13-30gpt for 60,000-100,000oz.
Crater said the potential to increase the resources was considered substantial.
The company said all-infrastructure was in place to access the mineralisation.
Stoping a the project began last quarter with $A127,000 in revenue received - which equates to well under 100 ounces.
However that production came from areas where unexpected artisanal mining had previously taken place, reducing the anticipated grade and production.