Mt Magnet – Galaxy underground gold project, Australia
Name of the Project
Mt Magnet – Galaxy underground gold project.
Location
Mt Magnet operation, in Western Australia.
Project Owner/s
Ramelius Resources.
Project Description
The Galaxy underground project has been approved for development.
A prefeasibility study has estimated mineral reserves of 2.4-million tonnes at 2.6 g/t for 200 000 oz of gold.
The project is based on a mineral resource of 8.5-million tonnes at 2.1 g/t for 560 000 oz of gold.
The project is expected to produce 194 000 oz over a 5.5-year mine life.
The mine will use longhole open stoping (bottom up with backfill).
The project has the potential to leverage existing processing plant and mine infrastructure. Ore is proposed to be processed through the Mt Magnet processing plant as part of an overall feed blend. No capital modifications to the processing facility will be required to process the ore. Existing tailings storage facilities will be used.
Potential Job Creation
None stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The project is estimated at A$60-million.
Planned Start/End Date
The project has been approved to start in late 2022.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Ramelius Resources, tel +61 8 9202 1127 or email ramelius@rameliusresources.com.au.
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