Name of the Project
Mount Coolon gold project (MCGP).

Location
The MCGP comprises a tenement package covering 770 km² on the eastern side of the Drummond basin, in Queensland, Australia.

Client
GBM Resources.

Project Description
A scoping study has demonstrated the potential economic viability of mining the Koala, Glen Eva and Eugenia resources at the MCGP using a combination of heap leaching and carbon-in-leach (CIL) processing. Total measured, indicated and inferred resources have been estimated at 6.65-million tonnes grading 1.5 g/t gold.

Ore will be extracted using conventional drill-and-blast, load-haul-dump methods. The Glen Eva and Eugenia deposits will be openpit-only operations, and Koala will include an open pit and underground operation. Additionally, the historical tailings located at Koala will be reprocessed.

The mining and treatment of the resources provide an expected mine life of just over five years, processing a total of 1.22-million tonnes of ore at 3.5 g/t through the CIL plant and processing 1.81-million tonnes of ore at 0.8 g/t as heap leach, producing 155 000 oz of gold.

The CIL plant will have a 300 000 t/y capacity and will initially treat the existing tailings stockpiled near the Koala pit and then process the higher-grade ore from the Koala, Glen Eva and Eugenia deposits. 

The CIL plant has been designed to be modularised and will be able to be relocated at a later stage. 

Ore from the Glen Eva and Eugenia pits will be transported 15 km by truck to the proposed treatment plant site.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
Preproduction and CIL/heap-leach plant capital is estimated at A$25.2-million.

Duration
Not stated.

Latest Developments
GBM Resources aims to secure funding and proceed with the feasibility study.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
GBM Resources, tel +61 8 9316 9100, fax +61 8 9315 5475 or email info@gbmr.com.au.