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Mount Mackenzie gold and silver project, Australia

24th July 2020

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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This article has been supplied.

Name of the Project
Mount Mackenzie gold and silver project.

Location
Mount Mackenzie is located in central Queensland, in Australia.

Project Owner/s
Resources & Energy Group Limited.

Project Description
A pit optimisation study has confirmed the potential for a low-cost and profitable opencut development at Mount Mackenzie.

The optimised pit generates a production target of 2.2-million tonnes at a head grade of 1.32 g/t gold and 8.5 g/t silver.

At a mining rate of 500 000 t/y, the opencut mining operation will have a mine life of about 62 months and will produce about 94 000 oz of gold and 610 000 oz of silver mined, and 67 000 oz of gold and 392 000 oz of silver milled.

This compares with the scoping study completed on the project in December, which found that, for a capital cost of A$13-million, the company could develop an operation producing an average of  43 200 oz of silver and 242 400 oz of silver over a 43-month period.

The adoption of a crushing, grinding and bulk sulphide flotation process to produce a polymetallic concentrate has the potential to unlock substantial additional feed sources at Mount Mackenzie.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
As part of the project feasibility study, further work, including drilling and metallurgical studies, will be undertaken to investigate a primary-ore bulk concentrate option. A detailed pit design, incorporating additional features, including waste dump design, ore pads and haul road layouts, will also be prepared.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Resources & Energy Group Limited, tel +61 2 92278900 or email communications@rezgroup.com.au.

Edited by Creamer Media Reporter

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