Penny gold project, Australia
Name of the Project
Penny gold project.
Location
The project is located about 150 km south-east of Ramelius’ Mt Magnet mining and processing operations, in Western Australia.
Project Owner/s
Ramelius Resources.
Project Description
A new life-of-mine plan, incorporating the prefeasibility study (PFS) for the Penny gold project, has confirmed that the project could produce 1.45-million ounces of gold over a six-year mine life, with the potential to deliver further resource extensions from growth operations.
The PFS has estimated that the Penny project has total mineral resources of 620 000 t grading 15 g/t of gold and mineral reserves of 500 000 t grading 14 g/t of gold.
The results have estimated that the project could deliver 230 000 oz of gold over an initial mine life of 3.8 years.
Ore will be hauled to Ramelius Mt Magnet facility for processing.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The project will require upfront capital of A$23.5-million.
Planned Start/End Date
Development of the Penny project is expected to start in the December quarter of 2021.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
Non stated.
Contact Details for Project Information
Ramelius Resources, tel +61 8 9202 1127 or email ramelius@rameliusresources.com.au.
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