NQ Minerals exploration permission granted at Beaconsfield Gold Mine

NQ Minerals Plc (LON:NQMI) has reported that permission has been granted to start over 2 kilometres of surface trenching at the Company’s Beaconsfield Gold Mine in northern Tasmania, Australia, to identify near surface gold deposits to add to the Beaconsfield’s estimated 483,000 ounces of JORC (2012) compliant Mineral Resources (1.454 Mt at 10.3 grams per tonne of gold).

David Lenigas, NQ’s Chairman, commented:

“This approval marks an important milestone in bringing this historic gold-rich property back on stream. Having acquired Beaconsfield in June 2020, we see scope to identify new and significant shallow ounces of gold that will be incremental to the already known JORC compliant reserves of nearly half a million ounces. The resumption of gold exploration kick-starts an exciting new era at Beaconsfield, with the trenching programme being a precursor to a follow up RC (Reverse Circulation) drill programme, which the Company is aiming to start this quarter.”

Six (6) costeans are to be progressed covering 2,100 metres in total. They will test for the surface expressions of the main Beaconsfield gold lodes – the main Tasmania Reef, the Moonlight-cum-Wonder line (to the northwest of the main Tasmania Reef) and the Olive Branch workings – where historically exploration efforts were focused on developing the deeper levels of the mine.

In addition to the exploration undertakings, the Company is completing the final stages of Metallurgical optimisation on the surface stockpiles material within the mining lease, which is now estimated to have 120,000 tonnes grading 3.2 g/t Au. This optimisation work has been undertaken to provide specific detail for the Beaconsfield gold plant refurbishment design and engineering. This work is expected to be completed by the end of this quarter. The work has taken longer than expected due to high demand for slots at the Metallurgical test Laboratories.

Beaconsfield history – c.1.9m ounces of gold recovered to 2012

Prospectors first discovered the Tasmania Reef in 1877 when investigating the source of alluvial gold in nearby Brandy Creek. Mining between 1877 and 1914 yielded 854,600 ounces of gold at an average grade of 24.3 g/t. During this time, mining occurred between surface and 455 metres.

Modern mining re-commenced in 1998 after 84 years of inactivity, with mining depths taken down to 1,200 metres from surface, producing a further 920,000 ounces at an average grade of 10.5 g/t gold when the mine closed again in 2012 due to the low gold price at the time.

It is proposed to ascertain the likelihood of defining additional near-surface gold resources that could be exploited by surface or underground methods to provide ongoing mill feed for the phase whilst the new proposed Beaconsfield mine access decline is developed. The Company will be providing regular updates on its Beaconsfield gold exploration activity.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    Twitter
    LinkedIn
    NQ Minerals Plc

    More articles like this

    NQ Minerals Plc

    NQ Minerals Plc April 2019 Record Production and Sales Results

    NQ Minerals Plc (NEX: NQMI) (OTCQB: NQMLF), a mineral processing, exploration and mining company, today announced its April 2019 and Year to Date production results from its flagship Hellyer Mine located in Tasmania. Brian Stockbridge, Non-Executive

    NQ Minerals Plc

    NQ Minerals Plc Declares Commercial Production

    Brian Stockbridge, Chairman of NQ Minerals PLC, commented “With commissioning substantially complete, NQ is now a producer. Having completed the acquisition and refurbishment of Hellyer over the prior two years, the culmination of Management’s efforts will make

    NQ Minerals Plc

    NQ Minerals Plc First Concentrate sale at NQs Hellyer Project

    Commenting, Brian Stockbridge, Non-Executive Chairman of NQ Minerals said: “We are pleased to receive our first payment for the first shipment of concentrate from our Hellyer project in Tasmania Australia. This now represents the start of

    NQ Minerals Plc

    NQ Minerals Plc second half of 2018 will be transformational

    Commenting, Brian Stockbridge, Non-Executive Charmain, said: “I am delighted to present the unaudited results for NQ Minerals plc, for the six months ended 30 June 2018. NQ Minerals has achieved the Board’s objective of becoming a

    NQ Minerals Plc

    NQ Minerals PLC Appointment of Director

    NQ Minerals PLC (NEX:NQMI), an Australia based exploration and mining company, has today announced that Mr. Kevin Puil has been appointed to the Board of Directors as a Non-Executive Director with immediate effect. A Canadian national, Mr.

    NQ Minerals Plc

    NQ Minerals Plc Receives Mining Lease for Sunbeam Silver Mine

    NQ Minerals Plc (NEX:NQMI) (OTCQB:NQMLF), an Australia-based exploration and mining company, has today announced that, further to the receipt of a required Queensland Environmental Authority, the Company has been granted a Mining Lease for its wholly-owned

    All Star Minerals Plc

    All Star Minerals Plc Makes First Profit

    ISDX listed All Star Minerals Plc (ASMO:ISDX) announced their unaudited final results for 2015 yesterday morning that showed the Company had made its first profit of £216,217. Indeed this profit would have been much bigger had