ABM on the verge of production at Old Pirate
PERTH (miningweekly.com) – ASX-listed junior ABM Resources expects to start mining its Old Pirate gold deposit, in the Northern Territory, shortly, while the commissioning of the Coyote gold plant is expected to be completed by May.
The company told shareholders on Friday that site work was well advanced and that waste rock and the initial mining footprint areas had already been cleared, with pre-strip waste mining having started.
Some surface ore had also been moved and stockpiled on the newly formed run-of-mine pad area, with ore mining expected to start within the next three weeks.
ABM was aiming to produce between 50 000 oz and 60 000 oz of gold from the Old Pirate deposit during its first year of operation.
Pending the receipt of the final approvals, ABM would look at a staged approach for the Old Pirate project, staging capital developing and allowing for the progressive exposure of the mineral system. The miner was planning an initial five openpit operations, averaging 35 m in depth, followed by pit expansions as production continued past the first year.
ABM had reached an agreement with a subsidiary of fellow-listed Tanami Gold to lease the Coyote gold plant and infrastructure, in Western Australia, to process ore from the Old Pirate operation.
Refurbishment work on the Coyote plant had started, and was running to schedule, ABM said.
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