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New target for emerging gold producer ready to explore

New target for emerging gold producer ready to explore

FOCUSSED on the exploration and development of gold in WA, Southern Cross Goldfields has identified a significant gold target in the Marda gold belt. The Thresher prospect was found during systematic regional auger drilling soil sampling programmes within its 4000 square kilometres of tenements in the Marda belt, 150km north of Southern Cross. Lying in a structurally complex geological position, the newly defined gold anomaly was defined by plus 40 parts per billion across a strike length of 800m with a plus 100ppb core across 400m. Thresher is close to the Evanston Shear Zone, which has anomalous gold occurrences over its 30km strike length; is parallel to an adjacent magnetic unit and may be on the flank of a local...

Record reserve new national number one

Record reserve new national number one

SOUTH Australian-focussed miner Rex Minerals is celebrating the announcement of a maiden ore reserve at its Hillside copper project, which has surpassed Prominent Hill as the largest copper open pit ore reserve in Australia. The Hillside maiden ore reserve totalled 120 million tonnes at 0.53 per cent copper, 0.14 grams per tonne of gold and 12.8 per cent iron for contained metal of 636,000t of copper, 540,000 ounces of gold and 14.5mt of iron ore. The ore reserve was completed on the back of Rex’s recent pre-feasibility study announcement in October 2012, and could support a 15-year mine plan at a production rate of 70,000 tonnes of copper per annum. Rex managing director Mark Parry said that with ongoing exploration...

New target for emerging gold producer ready to explore

New target for emerging gold producer ready to explore

FOCUSSED on the exploration and development of gold in WA, Southern Cross Goldfields has identified a significant gold target in the Marda gold belt. The Thresher prospect was found during systematic regional auger drilling soil sampling programmes within its 4000 square kilometres of tenements in the Marda belt, 150km north of Southern Cross. Lying in a structurally complex geological position, the newly defined gold anomaly was defined by plus 40 parts per billion across a strike length of 800m with a plus 100ppb core across 400m. Thresher is close to the Evanston Shear Zone, which has anomalous gold occurrences over its 30km strike length; is parallel to an adjacent magnetic unit and may be on the flank of a local...

Record reserve new national number one

Record reserve new national number one

SOUTH Australian-focussed miner Rex Minerals is celebrating the announcement of a maiden ore reserve at its Hillside copper project, which has surpassed Prominent Hill as the largest copper open pit ore reserve in Australia. The Hillside maiden ore reserve totalled 120 million tonnes at 0.53 per cent copper, 0.14 grams per tonne of gold and 12.8 per cent iron for contained metal of 636,000t of copper, 540,000 ounces of gold and 14.5mt of iron ore. The ore reserve was completed on the back of Rex’s recent pre-feasibility study announcement in October 2012, and could support a 15-year mine plan at a production rate of 70,000 tonnes of copper per annum. Rex managing director Mark Parry said that with ongoing exploration...

Funds boost provides push for new project

Funds boost provides push for new project

THE production ramp-up at Kingrose Mining’s Way Linggo operation is soon to be accelerated, following Credit Suisse’s decision to provide US$15 million in funding for the project. Credit Suisse will provide the funds through a two-part prepaid gold transaction to PT Natarang Mining; an 85 per cent owned subsidiary of Kingrose and operator of the Way Linggo project. A portion of the funds is dedicated to further drilling, to outline and expand the Talang Santo resource, as well as for testing of nearby target areas and general working capital purposes. The ramp-up activities are to take place at the Talang Santo gold mine in south Sumatra, where Kingrose made its second high-grade epithermal gold discovery around 7km from the company’s...

Mining applications rise as prospecting and exploration falls

Mining applications rise as prospecting and exploration falls

DESPITE a downturn in iron ore prices towards the end of last year, the WA Government saw a 21 per cent increase in mining applications for the December quarter. However, the WA Department of Mines and Petroleum also reported a drop in mineral prospecting and exploration applications; which, at 472, was nearly 200 less than the September quarter figure of 653. The DMP quarterly report stated this was the lowest figure the department had seen since late 2009. “This decreasing trend in mineral prospecting and exploration activity from record levels of exploration activity during the two years reflects uncertain global market conditions and the high costs of operating in WA,” the report stated. According to Mines and Petroleum minister Norman...

Uranium resource tripled in WA’s far north

Uranium resource tripled in WA’s far north

AUSTRALIAN diversified explorer Cauldron Energy is celebrating a 300 per cent upgrade to the Bennet Well resource within the company’s WA-based Yanrey uranium project. On completion of a 7146m drilling program, Ravensgate Resources – an independent consultant group – calculated an increased JORC-compliant resource of 15.7 million pounds at 270 parts per million uranium. Studies have indicated grades above 250ppm eU3O8 would be economic for a likely in-situ leach-style mining operation at Yanrey. Cauldron head of operations Simons Youds said the resource upgrade had confirmed a substantial new high-grade uranium district at Yanrey. “The majority of this large region, perspective for uranium deposits, is controlled by Cauldron,” he said. “This, and the fact that the strike extensions of what we...

Copper-gold project receives final go-ahead

Copper-gold project receives final go-ahead

THE WA Department of Mines and Petroleum has given Mutiny Gold the green light for its Deflector copper-gold project in the Murchison region, clearing the way for mining operations to begin. In an ASX release, Mutiny managing director John Greeve said that with the approvals process complete, the company could now focus on implementing plans leading into production. Following a definitive feasibility study (DFS) carried out late last year, Deflector has been highlighted as a highly profitable, low-cost project with significant gold recoveries of a high grade. The DFS forecast that Deflector would generate a profit of $223 million, with an initial production rate of 65,000 ounces of gold equivalent. The initial mine plan allows for a seven- and-a-half-year mine-life,...

Re-opening Paguna remains a priority

Re-opening Paguna remains a priority

ALMOST 24 years after the suspension of mine operations at Paguna mine due to militant attacks, Bougainville Copper (BCL) has updated its resource estimate of the area. The open pit mine and adjacent processing facility were operational between 1972 and 1989, when mining was suspended because of consistent militant attacks on company personnel and operations. However, BCL – owned by Rio Tinto (53.83 per cent), the Government of Papua New Guinea (19.06 per cent) and 27.11 per cent publicly owned – remains committed to reopening the Bougainville Island mine, which hosts a large porphyry copper-gold deposit. In 2009, BCL prepared an order of magnitude study (OMS) with a resource estimate of around 1 billion tonnes grading 0.33 per cent copper...

Stake in Frog’s Leg sold to operator in multi-million deal

Stake in Frog’s Leg sold to operator in multi-million deal

DUAL-listed Alacer Gold is selling its minority stake in the Frog’s Leg mine as well as two exploration projects near Kalgoorlie for $141 million, following the completion of a major strategic review. The company has entered into a binding asset sale and purchase agreement with La Mancha Resources Australia for its 49 per cent interest in Frog’s Leg; its 24.5 per cent interest in the Lake Greta joint venture; and its 40 per cent share in the Avoca JV. Once the acquisitions are completed, La Mancha will own 100 per cent of Frog’s Leg and continue as operator. Under the deal, Alacer will also provide La Mancha will toll milling services for 18 months using its Jubilee processing facility at...

First of four gold mines operational for junior developer

First of four gold mines operational for junior developer

IT’s a case of so far so good for Perth-based gold developer KalNorth, with the official opening of its first gold mine. Gold production is now underway at the Lindsay project, 65km northeast of Kalgoorlie; the first of four projects in the KalNorth Gold Field to enter production. Speaking at the opening ceremony, chairman Laurence Freedman said the mine’s production launch represented an important milestone for the company and shareholders. “With production now underway at the Lindsay’s field, we have officially transitioned from gold explorer to gold producer,” he said. Mr Freeman also believed that the development, which was completed on time and on budget, added credibility to the company as a profitable gold producer. “We have worked hard to...