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Vivien feasibility study proves up - Ramelius

Vivien feasibility study proves up - Ramelius

Photo by Bloomberg

30th May 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – A feasibility study into gold miner Ramelius Resources’ newly acquired Vivien project, in Western Australia, has placed a price tag of A$20-million on the project’s development.

Ramelius reported on Friday that the Vivien project would deliver about 451 000 t, grading 7.6 g/t ore over a mine life of 30 months, to deliver about 109 000 oz of gold.

The project was expected to have an operating cost of some A$890/oz, with ore from the Vivien mine to be processed at the Checkers processing plant, at Ramelius’ Mt Magnet operation, starting in 2016.

On the basis of the feasibility study, Ramelius had now approved the remaining A$4.5-million payment to complete the A$10-million acquisition of the Vivien mine from Agnew Gold Mining Company.

The final payment will be made in late June.

Ramelius had also submitted a mining proposal and project management plan to the Department of Mines and Petroleum. Exploratory drilling would also start shortly, once an underground drill position could be established, to exploit the potential for deeper resources.

Edited by Creamer Media Reporter

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