Mar 20, 2020

Ausmex on track with Cloncurry gold plans

Ausmex on track with Cloncurry gold plans

Ausmex has hit the home straight in its mining lease application for the Golden Mile high-grade gold projects near Cloncurry.

The company said today that the application was in its final stages, with submissions from the public due by April 24.

It has an agreement to process the Golden Mile ore at Round Oak Minerals’ Great Australia gold processing facility in Cloncurry.

The Golden Mile, based on a string of historic gold workings, is part of the company’s Mount Freda complex, south-east of Cloncurry.

Ausmex says it expects to complete a JORC resource estimate for the project next month, when it plans to begin a scoping study for an open-cut mine at Mount Freda.

Planning has commenced for trial open-pit mining and gold production to collect processing parameters for feasibility studies.

With haul roads already in place from Mount Freda and The Golden Mile to ore processing facilities, Ausmex says the operations present a very low-cost avenue to potential near -term gold production in 2020.

It plans to develop a multi-pit mining hub across the Mount Freda and Golden Mile assets.

Ausmex remains in negotiations with several parties regarding the sale of its Gilded Rose gold project.