Regis Resources Approves Rosemont Gold Mine Expansion

In a move approved by the company’s board, Regis Resources will be expanding its Rosemont gold mine in Western Australia by adding an underground mining operation.

The board at Regis Resources (ASX:RRL) has approved an expansion at the company’s Rosemont gold mine in Western Australia.

The expansion will consist of an underground mining operation directly beneath Rosemont’s current open pit. The combination of the expansion with the open pit is expected to produce 10.3 million tonnes of ore at 1.72 grams per tonne gold — that comes to 570,000 ounces of gold over a five-year mine life.

Open-pit reserves are to make up 62 percent of production at 356,000 ounces, with the underground operation accounting for 38 percent at 214,000 ounces.

Development is set to start this quarter, along with work on an updated mineral resource estimate, which will include recent infill and extensional drilling. The mining rate following the expansion is expected to stay at around 2.1 million tonnes per year, with the underground portion being in the 480,000- to 600,000-tonne-per-year range.

Pre-production capital costs for the underground expansion are predicted to be $29.4 million, along with a further $9.7 million expected to be spent over the life of the mine. Meanwhile, operating costs for the full operation are expected to be $1,015 per ounce, while the underground mine’s operating costs will be around $1,154 per ounce.

“The decision to approve the first development of an underground mine at one of our Duketon operations is a very exciting step for Regis,” Regis Executive Chairman Mark Clark said in a statement.

“We believe that the approved Rosemont underground operation is a robust business in its own right but just as importantly will see the infrastructure in place to grow that mine through exploration from an established underground footprint,” he added.

Ultimately Rosemont is expected to produce at a run rate of 120,000 to 130,000 ounces per year, an estimated increase of 35,000 to 45,000 ounces from the open pit alone.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

When Will Australia Legalise Recreational Cannabis?

Recreational cannabis remains illegal in all Australia’s states and territories with the exception of the Australian Capital Territory (ACT). But could that change in the future?

So far there are no clear indicators as to when or if Australia could legalise recreational cannabis, but attitudes seem to be changing. Public support is growing, and there’s even some political acceptance.

Read on to learn more about when Australia may legalise recreational cannabis.

Keep reading... Show less

Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

Keep reading... Show less

Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

Keep reading... Show less

AIS Resources’ Australian Yalgogrin Gold Project’s first drill hole returns gold intercepts averaging 1.5g/t over 87 meters including 0.9 meters at 9.3 g/t

A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF ) (the “Company” or “AIS) reports that the assay analysis from YDD1 at Neighbour’s Farm historic mine workings, the first diamond drill hole at its Yalgogrin Gold Project, NSW, Australia has been completed by SGS Australia. Extensive gold mineralisation was intersected from 58m through to the end of hole at 162.3m with gold mineralisation remaining open at depth and returning gold Intercepts over 87m averaging 1.5gt. The best individual grades returned up to 9.3 gt Au that are supported by consistent mineralisation hosted within the altered rock mass.

A summary of the intervals and average assays is set out below from the top of the core:

Keep reading... Show less

Resolution Minerals Ltd Drilling Program at Sunrise Gold Prospect Completed

Adelaide, Australia (ABN Newswire) – Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce that it has completed the Company’s first drilling program on the Sunrise Gold Prospect at the 64North Project in Alaska. Drilling was conducted along an existing access road, targeting outcropping granite hosted mineralisation, analogous in style to Kinross’s Fort Knox Gold Mine, which is one of Alaska’s most profitable mines. The Sunrise Prospect was identified in 2020 by a RML trenching program and is located less than 5km from Northern Star’s operating Pogo Gold Mine.

Summary

– A 1400m long “fence line” of 27 shallow RAB drill holes designed to test outcropping mineralisation at the Sunrise Prospect has been completed.

Keep reading... Show less

Top News

Related News