The production target at Resources & Energy Group’s Granny Venn gold mine in Western Australia has exceeded expectations.
Mining operations at Granny Venn began in July 2021, the first since 1998. The production target forecast then was 120 kilotonnes @ 2.3 grams per tonne of gold for 8000 ounces.
The fourth toll treatment (T4) for the project has just been completed at Golden Mile Milling’s Lakewood plant, revealing a total of 126kt of ore with an estimated head grade of 2.37g/t for 9532 oz.
The company expects to receive a distribution before the end of the June Quarter. Any remaining balance will be received after final accounts are settled, mint outturns completed, and Gold-in-Circuit adjustments certified.
The free cash generated will significantly underpin exploration efforts going forward across the broader flagship East Menzies Goldfield Project area and into 2023.
The exploration management plan currently encompasses five operational areas, which include the Gigante Grande Gold prospect, Springfield, Granny Venn, Goodenough and Maranoa.
Preparations are already underway for exploration drilling over the company’s highly prospective Gigante Grande, including program-of-work (POW) applications for drilling which have been lodged and cultural heritage surveys, which have been completed.
Interpretation of existing geophysical data sets at the company’s Springfield magmatic nickel sulphide prospect are also well advanced. This includes design work for a moving loop EM survey over the prospect area, which is programmed for July, and additional assay and petrological investigations on drill core recently recovered from the prospect.