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Project : RAVENSWOOD GOLD OPERATIONS - MOUNT WRIGHT - GOLD RESOURCE

Mining
Underground - including longwall
  Estimated Project Value
$ 77,000,000
Address 15 km north of
Suburb Ravenswood
State QLD
Council Charters Towers Regional
Postcode 4816
Project Type Resource - Gold
Development Type New
Status Commenced
Stage Construction
Ownership Private
Notes
Decline Development In Progress
Commence Date 7/7/2006
Completion Date 3/6/2010
Details
  • Design work and equipment procurement is to commence shortly with major site works scheduled to start July 2006.
  • The project is expect to cost $77 million with $28.8 million for underground facilities and equipment, $21.7 million for surface facilities and equipment and $26.4 million for capitalised mine development.
  • During the first two years $42 million will be spent on development.
  • Production cost is expected to be $34 per tonne of ore processed.
  • The project will develop in two stages with phase one involving decline development and exploration access for the drill program, while providing a platform for production from the upper levels of the resource.
  • Phase two will extract the remaining resources identified in phase one.
  • The feasibility study completed a comprehensive metallurgical test work, processing strategy using the existing plant, options study on different mining methods, environmental issues connected to tailing storage have been addressed.
  • Underground mining is the method of mining.
  • The Mount Wright prospect is located 10 km northwest of the Sarsfield open pit and is proposed to be developed as a decline accessed underground mine.
  • Mining is to be by open stoping with 50 metre sub-levels at an extraction rate of 1 million tonnes per annum.
  • An extensive underground DC drilling program will be undertaken in conjunction with mine development to upgrade the resource status.
  • Inferred and indicated resource estimate is 1,054,722 ounces of gold.
  • An eight year production life to 2015 and production rate of 1 MTPA.
  • Mount Wright.
  • Mining will be conducted on an owner/operator basis.
  • Installtion of surface infrastructure and associated earthworks have been completed.
  • This included offices, workshops, stores areas, rom pads, access roads, site settling ponds and run off dams.
  • The development of the portal was completed and decline work has commenced.
  • Mining will commence shortly when equipment has arrived on site.
 
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