Mantle buys idled Norton gold mine
JOHANNESBURG (miningweekly.com) – ASX-listed Mantle Mining is buying the idled Norton gold mine, in Queensland, from fellow-listed Norton Gold Fields for $300 000 in cash.
Based on preliminary due diligence, Mantle reported on Monday that it could potentially bring the mine back into production for under $1-million capital cost and within 18 months, pending approvals from the relevant government authority.
The company said it was in discussions to hire an experienced project manager to bring Norton into production. The mine was last worked in 2005/6, with about 5 000 t of material processed through Gympie Gold’s treatment plant. Operations were terminated in October 2006, owing to Gympie falling into administration and Norton Gold Fields refocusing on the Paddington Field, in Western Australia.
The mine has a combined measured, indicated and inferred resource estimate of 453 000 t at 7.4 g/t for 108 000 oz. The resource estimate is non-Joint Ore Reserve Committee compliant and Mantle said that minor work was required to accomplish full compliance.
Norton is located 100 km by road south of Gladstone. The gold field was discovered and brought into production in the late 1800s, producing 16 000 oz of gold up to 1900. Minor production in the 1990s produced a further 1 285 oz of gold. The majority of the deposit exists from surface to 50 m deep and only parts of the deposit have been drilled beyond 100 m.
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