Octagonal Resources was incorporated in September 2010 to acquire the Victorian gold projects of Alliance Resources Ltd, Matrix Gold Ltd and Highlake Resources Pty Ltd and an emerging Western Australian gold project generated by Newmont Asia Pacific to form a new company that has the drive and energy to successfully develop these assets.
Octagonal was established to create a self funding junior Australian gold company with open pit and underground mineable resources that can be exploited to fund long term growth through the discovery and development of major gold operations in underexplored areas of world class gold producing terrains.
As the Eastern Goldfields Province of the Yilgarn Craton in Western Australia and the Bendigo Zone of the Lachlan Fold Belt in Victoria are the two largest gold producing regions in Australia, Octagonal is focused on developing operations within these terrains.
The Company’s objectives are:
Mine a 200,000 tonne open pit at Black Reef, Wehla and process the ore through the Maldon Gold Processing Plant to determine the feasibility of a larger open pit operation,
Commence underground mining from the Alliance South Shoot and process the ore through the Maldon Gold Processing Plant to determine the shoot grade and ground conditions to facilitate extraction methods for an ongoing operation,
Define at least 250,000 tonnes of JORC-compliant open pit resources at Wehla, Pearl Croydon, Campbelltown, and Dunolly East to provide ongoing feed to the Maldon Gold Processing Plant, and
Commence aggressive regional exploration at the Hogan’s Project, a highly prospective but underexplored area of the Eastern Goldfields Province in Western Australia.
Delineate a minimum Indicated Resource of 100,000 ounces of gold in Central Victoria to support the mining operation, and
Define an initial gold resource in Western Australia of greater than 100,000 ounces of gold.
Define and develop major long-term gold operations in Central Victoria and Western Australia.