Jan 27, 2021

Milestone gold pour for Agate Creek project

Milestone gold pour for Agate Creek project Agate Creek ore is being transported to the Lorena gold mine CIL plant for processing.

Laneway Resources has announced the first gold pour from ore being processed from the current mining campaign at its Agate Creek mine in North Queensland.

An initial gold doré bar of about 3.2kg has been poured at the Lorena
CIL (carbon in leach) processing plant near Cloncurry, sourced from the first strips of gold recovered to CIL carbon.

Laneway said gold recovered by the gravity and intensive leach reactor circuits was still to be electrowon and would be prepared for a separate gold pour.

About 4400 tonnes of ore grading at 6g/t gold has been transported from the mine, about 40km south of Forsayth, to the Lorena processing plant. To date, Laneway said about 2200 tonnes of this ore has been crushed and fed into the plant, with gold recoveries expected to be greater than 90 per cent.

Mining operations at Agate Creek continue to be temporarily suspended due to localised flooding and resultant road closures caused by the recent heavy rainfall from ex-Tropical Cyclone Imogen, ex-Tropical Cyclone Kimi and the associated tropical lows.

The company believes access restrictions due to current flooding and road closures will likely see the suspension of mining until after the wet season.

During the current mining campaign, Laneway plans to extract a
total of 43,000t at 6.5g/t gold – or about 9000oz gold – from the Sherwood pit.

“We are pleased to have achieved the first gold pour from the current mining campaign and look forward to the completion of the processing of the ore that is currently at the Lorena processing plant,” chairman Stephen Bizzell said.

“Whilst mining activities continue to be temporarily suspended due to the recent heavy rainfall and flooding, the company continues to progress other activities in preparation for a busy 2021 as we focus in parallel on the planning, approvals and development of the larger volume of high grade ore encompassed by the larger Whittle pit shell, undertake drilling programs targeting over 60 regional exploration targets and then turn our attention to options for onsite processing of the almost half a million ounces of gold resource already identified at Agate Creek.”