PERTH (miningweekly.com) – ASX-listed Moreton Resources is expected to produce its first silver between now and the end of January next year, with the recommissioning of the existing silver room at its Granite Belt operation, in Queensland.
The company on Friday told shareholders that the plan of operations for the greater Granite Belt project had been approved by the Department of Environment and Heritage Protection, meaning the company could now start operations.
Moreton is hoping to start concentrate production within 30 days from the silver room, and will resume silver production from processing ponds by the end of October. Heap leach operations will run in parallel with these activities.
The company has previously revealed that for a capital investment of less than A$12-million, the Granite Belt project could be restarted to produce about 90 000 oz/m of silver over the first eight years of operation.
During full-scale operations, the project will employ between 40 and 60 people, and will have a total C1 cash cost of around A$12.50/oz.