PERTH (miningweekly.com) – Gold miner Ramelius Resources has unveiled a new mine plan for its Western Australian assets, which has seen its production targets to 2028 increase by some 27% on the previous plan.

The company stated on Monday that it would deliver some 1.84-million ounces across the seven years, at an all-in sustaining cost of between A$1 390/oz and A$1 490/oz.

“Once again, to be able to increase the size of the mine plan to 1.84-million ounces, following another record production year in 2021, is a very pleasing result for Ramelius. It is a further testament to the work done by all our team that we can articulate a longer term plan with production scale, strong margins and an achievable approach to reserve replacement that gives us added confidence going forward,” said MD Mark Zeptner.

Group gold production in the 2022 year is now predicted to be higher at around 280 000 oz, up from the previously estimated 265 000 oz.

The updated mine plan includes production from the Mt Magnet, Penny and Edna May operations, as well as potential production from the Edna May stage 3 operation.

The Edna May stage 3 prefeasibility study will continue until 31 December 2021. With planned drilling in the northern (Golden Point) area and recent market fluctuations affecting a number of study inputs, more time is required to appropriately finalise mineable resources, capital and operating costs.

Scoping study work at Mt Magnet has also identified the opportunity to bring forward the Galaxy underground, given its potential to start earlier than the Eridanus underground, which requires the stage 2 openpit to be completed in 2024 before development can commence.

The Vivien mine has been extended by another two years, with a further year of underground mining before an openpit is planned to mine the crown pillar on the north end of the deposit. Furthermore, a comprehensive underground diamond drilling programme is underway that will look to add further life to the underground mine that has been in operation since 2015.

The high-grade Penny underground remains on track for ore production commencing at the start of 2023, with 2022 used to complete surface and underground development work.