PERTH (miningweekly.com) – First gold ore has been transported from the Ulysses gold project, in Western Australia, owner Genesis Minerals has reported.
Openpit mining at the Ulysses west pit of the project started in early October, and has progressed rapidly, the company said on Monday.
Mining at the pit will be completed before December 25.
Ore from the openpit mine is being hauled to Paddington Gold, where it is being processed under a toll milling agreement. The first parcel of ore, containing 8 500 t of ore at 2.5 g/t gold, is currently being transported via road.
Genesis said regular shipments of around 10 000 t each were scheduled to be made to Paddington during November and December.
The Ulysses West pit is forecast to generate between A$4-million and A$6-million in free cash flow, depending on the gold price at the time of delivery.