In what may be a first for the Australian Mining Prospect Awards, the winner of Mine of the Year was not a winner in either Hard Rock or Coal Mine of the Year.
The winner of the 2015 Mine of the Year award is Doray Minerals’ Andy Well mine.
Doray Minerals is an Australian-based high-grade gold producer, developer and explorer with substantial exploration upside, and has gone from success to success in its operations.
The company controls two high-grade Western Australian gold assets – the operating Andy Well Gold Project (Andy Well) and the development-ready Deflector Gold Project (Deflector).
Doray is one of the highest grade and highest margin gold producers in Australia from the Andy Well Gold Project and is in a strong financial position.
Production began at Andy Well’s Wilber Lode gold deposit in August 2013.
Its high levels of productivity are highlighted in the most recent September quarter, where it achieved another strong result at Andy Well.
The site recorded production of 25,690 ounces from processing 83,246 tonnes with an average head grade of 9.83g/t Au, beating the forecast production by 6.5 per cent and confirming Andy Well as the highest grade gold operation currently in production in Australia.
The Deflector Gold Project is currently under construction and Doray aims to be producing gold from Deflector in 2016.
There is substantial exploration upside with the potential for additional deposits, and a highly prospective regional exploration project portfolio in WA and South Australia is already delivering results.
It announced a maiden high-grade resource for the Suzie Zone in February 2015, which is located parallel to the operating Wilber Lode underground mine and the Judy Lode.
This is the third high-grade gold resource defined by Doray at Andy Well.
The indicated and inferred resources for the Suzie Zone comprise 468,000t @ 8.1g/t Au for 123,000 contained ounces and takes the Andy Well resource inventory to over 500,000oz from three deposits.
Doray completed the first underground diamond drilling program on extensions to the Wilber Lode deposit in May, with a number of significant high-grade results returned including 0.9m @ 155.2g/t Au. These results confirm the continuation of high-grade mineralisation below the current mine design and mineral resource boundary, and will be incorporated in a recalculation of the Wilber Mineral resource.
The current combined Andy Well resource inventory (Wilber, Judy and Suzie Lodes) is 1.75Mt @ 10.1g/t Au for 572,000 contained ounces. Total Ore Reserves at Andy Well are estimated at 814,000t @ 8.8g/t Au for 229,500 contained ounces.
The company has an excellent track record of meeting milestones on time and
under budget, and its experienced board and management team has expertise in discovery, development and production.
Doray is focused on reaching production targets at Andy Well, delivering strong financial results, developing the Deflector Project, accelerating exploration and reaping rewards for shareholders.