Ausmex Mining Group says it is stepping closer to gold production in the Cloncurry area, with infill drilling to be completed at Golden Mile by the end of the month and upgraded resources estimates to follow.
The company is focusing on the three most western of the eight historical gold mines in its Golden Mile project – the Comstock, Falcon and Shamrock sites.
It said it planned to commence gold production this quarter, dependent on the mining lease being granted.
The feasibility study for the three Golden Mile mining projects was being
undertaken by Minecraft Holdings and was already well advanced, the company said in an announcement to the ASX.
Ausmex holds Golden Mile in joint venture with Round Oak Minerals (20 per cent stakeholder) and the ore from the Falcon, Shamrock, and Comstock projects would be processed at that company’s 650,000 tpa CIP gold processing plant at Cloncurry.
Ausmex also recently completed an infill drilling campaign at its Mount Freda gold project, just south of Golden Mile.
The drill hole data is going towards new JORC resource estimates for Mount Freda.
“Upon receipt of the upgrade JORC resource estimates, the company will transfer the data for the mine design, costings and feasibility study with independent consultants who have already been contracted to complete the studies,” managing director Aaron Day said.
“We expect these studies to be completed within two-three weeks after
receiving the upgrade JORC resource estimate.”