Aug 30, 2019

Ausmex moves to create multi-pit Cloncurry gold hub

Ausmex moves to create multi-pit Cloncurry gold hub

Ausmex Mining has submitted a mining lease application for its Golden Mile high-grade gold projects, flagging a potential 2020 start date for production from the area.

The 225ha Golden Mile package along with its Mt Freda mining leases offered the potential for a Cloncurry mining hub with multiple pits, the company said.

Ausmex would be able to process ore from the hub at Round Oak’s Great Australia CIP gold processing plant at Cloncurry.

It hopes to gain the Golden Mile approvals within 12 months.

Ausmex is continuing gold resource definition drilling across the Mt Freda complex and aims to release a maiden resource estimate in November.

“It is envisaged the company will commence a mine scoping study for the Mt Freda open cut ML2752 in December 2019, aiming to submit by March 2020 a plan of operation to recommence open cut mining activities,” it said in a statement to the ASX.

With haul road facilities already in place, the Mt Freda and Golden Mile projects offered a low-capital entry point for potential gold production in 2020, Ausmex said.

Ausmex Cloncurry gold tenement location plan, showing the proximity to the Great Australia processing plant and the Lorena and Eloise mines.