Native Mineral Resources (ASX:NMR) has bid to accelerate recommencement of gold production at several recently acquired gold plays.
NMR has picked up the ‘BlackJack’ and ‘Far Fanning’ gold deposit assets in QLD and the company noted on Tuesday BlackJack’s on-site processing plant is in good enough nick to stage a relatively quick refurb.
Before the end of next year, that plant could be up and running all cards in order, and geotechs’ hopes are backed up by stockpile and waste ore samples at Far Fanning with 45 of 75 samples to date returning grades over 0.5g/t gold.
(For context, the Far Fanning mineral estimate is 2.3Mt of ore at 1.84g/t gold for 138Koz.)
In case it needs to be said, Far Fanning ore would be sent to the BlackJack plant in the company’s current operational vision.
“Since announcing our acquisition of this project in early November and following completion of the placement last week, we are accelerating our work,” NMR MD Blake Cannavo said.
“Far Fanning’s stockpiled material and existing JORC 2012 MRE provides us with a strong foundation on which to achieve this goal and we are excited about its potential,” he added, speaking of the company’s goal to become a gold producer in 2025.
Though, management commentary took a more cautious tone on the prospect of restarting the old plant at BlackJack.
“We are also undertaking a full assessment of infrastructure at Blackjack processing plant, including the plant and buildings, to determine if this can be refurbished or replaced in a timely manner to help support our gold production goals.”
NMR last traded at 3.7cps.
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