Ballarat Gold Project Commissioning Update
Castlemaine Goldfields Limited (ASX:CGT) is currently re-developing the Ballarat Gold Mine and has begun gold ore mining and re-commissioning of the gold processing plant, all acquired only 16 months ago for a cash purchase price of $4.5m. Mine progress and continued exploration drilling has seen a number of significant refinements to the initial mine plan which are detailed in this report.
Key points:-
- First bullion production occurred on schedule in September,
- Two new ore sources have been added to the original mine schedule, access development has commenced, with one access now yielding ore,
- Ore access into the first Lower Llanberris mineralisation at the Tiger South lode achieved, with further infill drilling now required,
- Infill drilling programs have begun into the Mako Fault Zones in the Lower Llanberris and Britannia compartments (the next major ore sources),
- Initial gold mining of the Sovereign 524 continues as the primary ore source
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