Laneway pours first gold from Agate Creek
PERTH (miningweekly.com) – ASX-listed Laneway Resources has poured the first gold from its Agate Creek gold mine, in North Queensland, at the Georgetown gold processing plant.
The gold pour comprised a doré bar weighing approximately 3.9 kg of bullion, which will now be despatched to the Perth Mint for refining. Once refined at the Pert Mint, the gold purity of the bar will be determined.
“This first gold pour is another significant milestone for Laneway on its journey to becoming a substantial gold producer. Following entering into the agreement to acquire the Georgetown project, including the Georgetown gold processing plant earlier this year, Laneway has successfully and rapidly executed on the refurbishment and recommissioning of the plant and the recommencement of mining at Agate Creek,” said Laneway MD Brad Gordon.
“The strong cashflows that can now be generated will establish a solid base for unlocking the considerable value in our project portfolio.”
First ore was fed into the milling circuit at the end of August in line with expectations, and since the start of of ore processing last week, 740 t of ore have been crushed, milled and are being processed. Processing rates are currently approximately 18 t/h day shift only, and a second shift is scheduled to start later this month allowing 24 hour processing with throughput rates expected to average around 20 t/h to 22 t/h.
Processing rates will be dependent on feed grades and ongoing metallurgical performance, including recovery.
Mining operations are progressing well with the expectation that a total of around 30 000 t at 8 g/t gold will be mined from the current pit at Sherwood. Further pits to be mined after the current Sherwood pit are in the final stages of planning and approvals.
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