The Board of
Highlights
A second gold pour occurred yesterday evening of a 10.76 kg gold dore bar (pictured above) at the recently refurbished Georgetown Gold Processing Plant (GGPP) from high-grade ore sourced from Laneway's 100% owned
The bullion poured so far has been recovered only from the gravity circuit of the GGPP at this stage - and has delivered 14.66kg of gold dore to date as processing throughput rates and production continue to ramp up during the plant recommissioning phase.
Carbon loaded with gold bullion recovered from the carbon-in-leach (CIL) circuit of the GGPP since processing commenced has also now been shipped and transported for contract off site stripping whilst final modifications are completed to the onsite elution circuit. Bullion from this carbon stripping is expected to be poured and delivered to the Perth Mint early next week. It is expected that a similar amount of gold will be recovered from the CIL circuit as is being recovered from the gravity circuit.
Since ore commenced being fed into the plant on the 30th August, a total of 2,478 tonnes of
Approximately 27,500 tonnes of ore grading 8 g/t gold has been mined from the current pit at Sherwood since mining recommenced at the end of June, with the final drill and blast program for this pit due to commence next week.
Laneway entered into an agreement earlier this year to acquire the
The Company is successfully continuing its gold production ramp up with a further gold pour late yesterday having brought the
First ore was fed into the milling circuit on 30th August in line with expectations. Since commencement of ore processing, 2,478 tonnes of ore has been crushed, milled and is being processed. Head grade assays are in line with expectations. Processing rates are currently approximately 18 tonnes per hour day shift only - a second shift is scheduled to commence later this month allowing 24 hour processing with throughput rates expected to average around 20- 22tph. Processing rates will be dependent on feed grades and ongoing metallurgical performance including recovery. Mining operations are progressing well with a total of approximately 27,500 tonnes at 8 g/t gold already mined from the current pit at Sherwood with the final drill and blast program for this pit about to commence. Further pits to be mined after the current Sherwood pit are in the final stages of planning and approvals. The ore is being transported to and then processed through the Georgetown Gold Processing Plant. Utilising an existing processing plant has significantly reduced the capital expenditure and time to first gold production for Laneway and establishes a robust platform for enduring cash flow and subsequent growth.
Laneway anticipates material positive cash flow this year from the high grade gold mining activities at
Contact:
Managing Director
Chairman
Phone: (07) 3108 3500
E-Mail: admin@lanewayresources.com.au
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