Tomingley Gold Operations
Gold production on forecast for the quarter at 13,358 ounces, with site operating cash costs at
Gold sales of 12,992 ounces for the quarter for revenue of
FY2020 gold production was 33,507 oz (guidance 30,000 oz to 35,000 oz) with AISC of
The Tomingley Gold Operations (TGO) FY2021 plan has been updated to take into account the sustained higher gold price.
The plan incorporates extensive grade control and infill drilling conducted in the
Guidance for FY2021 is 45,000 to 50,000 oz at an AISC of
This is a significant increase in production over the Board-approved plan to commence underground mining in
The TGO Mine Plan does not yet incorporate mining of the Roswell or
Exploration
Infill drilling within the Roswell and San Antonio Inferred Resources south of TGO continued and a number of thick, high grade gold intercepts were recorded, such as: RWRC180D 69.0 metres grading 9.12g/t Au from 218 metres; incl 6.7 metres grading 28.0g/t Au from 207.3 metres; incl 1.0 metre grading 104.0g/t Au from 274 metres.
Assay results were received for the final diamond core drill hole of the initial Boda program and modelling of all the results indicated a +0.2g/t AuEq subvertical zone of significant gold-copper mineralisation; approximately 500 metres north-south strike length, 400 metres wide and >1100 metres vertically.
Within this envelope is a +3.0g/t AuEq high-grade pod approximately 150 metres long, 100 metres wide and >500 metres vertically. Both zones remain open along strike and at depth
A 30,000 metre follow up drill program at Boda has recently commenced
Corporate
Cash, bullion and listed investments position totalled
Shareholding remained at 12.7% of ASX listed gold developer
Shareholding of ASX listed gold developer
Alkane's Board has committed to the demerger of ASM and shareholders will vote on the demerger at an EGM on
The construction and start-up of commissioning of the commercial pilot plant in Daejeon,
During the quarter the Korean Government awarded a
The commercial pilot plant has successfully produced a titanium metal alloy ultilising 45% less power than current industry methods (ASX Announcement
Work on completing flotation test work to deliver an increased ore feed grade to the solvent extraction plant continued during the quarter. The integration of flotation into the proven flowsheet is a key part of targeting a reduction in the capital and operating costs for the development of the
Tomingley Gold Operations (TGO) is a wholly owned subsidiary of Alkane, located near the village of
Open cut mining from the four deposits occurred from late 2013 until early 2019. During that time 6,271,000 tonnes of ore averaging 1.95 g/t Au were mined, resulting in 369,000 ounces poured gold after processing (to 31 December 2019).
The open cut mining reconciliations were very positive, with 393,000 ounces gold in the ore mined from the open cut versus 353,000 ounces contained in-situ within the original total mineral resource (Inferred, Indicated and Measured) at mine commencement that fell within the final pit shells, an 11% increase.
This positive reconciliation gave the Board confidence not only in the underground resource already defined, but that expansion of that resource was possible as it was developed.
In
Operations Performance
TGO continues to perform well and is processing underground stope material with recovery as expected. The ore feed is supplemented by low grade stockpiles whenever capacity permits. TGO continues to maintain high vigilance around COVID-19.
A total of 13,358 ounces of gold was poured for the quarter. The site cash costs for the quarter were
Gold sold for the quarter was 12,992 ounces at an average sales price of
Site operating cash flow1 was
Drilling at TGO
The geology team at TGO has not only conducted the routine grade control drilling and underground sampling that normally occurs in an underground operation, but has also conducted extensional drilling inside the existing resource base. This has focused on areas identified as having potential mineralisation both in development of open cut and during underground.
The recent extensional drilling from surface at
Orogenic gold deposits like those at TGO often have considerable depth extent and the base to the mineralisation at
Cut-off grade review
A review was conducted optimising stopes using a cut-off grade based on an
Stopes that remain profitable after this process have been included in the mine schedule, the additional stope ore that falls within first three years of the schedule totals 780,000 @ 1.3g/t for 33,000 mined ounces.
Cut-off grade review
A review was conducted optimising stopes using a cut-off grade based on an
Stopes that remain profitable after this process have been included in the mine schedule, the additional stope ore that falls within first three years of the schedule totals 780,000 @ 1.3g/t for 33,000 mined ounces.
Contact:
Tel: 61 8 9227 5677
Fax: 61 8 9227 8178
Email: info@alkane.com.au
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