Matsa starts mining at Red October
PERTH (miningweekly.com) – ASX-listed Matsa Resources has started mining at it Red October gold project, in Western Australia, with first ore expected in April.
The mining operation is expected to generate some A$16-million in revenue and deliver Matsa a cash surplus of more than A$4-million.
The junior said on Monday that all the necessary approvals are already in place, with toll milling and ore purchase agreements currently being negotiated.
Detailed mining studies have estimated that some 56 673 t of ore, at a grade of 5.61 g/t gold for 10 222 oz, could be produced at Red October over an initial seven-month mining operation.
“I am delighted with the work done in getting the Red October gold mine to the point where we can announce mining and production in early 2019 subject to a suitable toll milling/ore purchase agreement being finalised,” said Matsa executive chairperson Paul Poli.
“Although planning indicates initial production over a seven-month period, I am very confident ongoing exploration and increased knowledge will see production go beyond that timeframe.”
The Red October resource remains open in all directions, and the deposit is largely considered to be unexplored along strike and down dip, and a number of new underground exploration targets have been identified within the existing datasets, the company said.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
