Overview
The Red October mine is a structurally controlled aureate deposit located in the Laverton Greenstone Belt which hosts a phone number of earth class and emerging amber mines with resources > 25M oz of gold which include Sunrise Dam, Mt Morgans, Butcher Well, Granny Smith and Wallaby .
The project area at Red October covers 44km2 and consists of six granted Mining Leases ( ML ’ sulfur ), an extensive well-maintained belowground mine, a 68-person camp, offices, workshops and exploration base, wet and dry messes, underground mine equipment .
History
red October was acquired from Saracen Resources ( ASX : SAR ) in March 2017 having historically produced 342,000oz amber at an median of 6.1g/t. The capable pit operation contributed 113,000 oz gold at 6.5g/t Au between 1999 and 2002 and the clandestine operation has produced 1.2Mt at 5.9g/t Au for 229,000 oz amber to a depth of 550m vertical metres between 2012 and 2017.
Since purchasing the mine in March 2018, the Matsa team have undertaken high-level economic studies and defined a JORC 2012 JORC Resource of 173,000 oz gold @ 5.8g/t .
Mining activities commenced in in February 2019 and Matsa has maintained a small-scale product profile through till 2021. however, production has since wound depressed in order to preserve feedstock for a Matsa owned and run mill which has the potential to dramatically improve project economics at Red October .
Exploration target*: 200,000oz to 340,000
Drilling targets include the traditional mine areas such as the Marlin and ROSZ american samoa well as the recently targeted Lion Fish, Dory & Nemo lodes. Drill drives are being prepared to enable clandestine boring to the north and south of existing mine workings to test for mineralised extensions to the Lionfish, ROSZ and Marlin structures along fall upon. Infill drill of the Dory, Nemo and other areas are expected to provide sufficient exercise intercepts to enable model updates for these supplementary lode structures that are presently not in the resource.
Read more: Fire Release
Project Economics
Matsa has conducted a review of the impact on the Red October underground gold mine utilising its own work plant, as described by the CPC discipline. The leave has a dramatic positive impact on the economics of the mine because of reduce processing and draw costs compared to presently incurred costs.
It is envisaged that production at Red October mine would be processed along with production from early Matsa mining operations such as Fortitude. furthermore, as the plant would probable be positioned in close proximity to existing Matsa resources, draw distance would be expected to be reduced to less than 15km and thereby reducing the load and draw costs to $ 4/t .
Nhận xét