Red 5 says quarterly output unaffected by Siana ground movement
PERTH (miningweekly.com) – Junior gold miner Red 5 reported on Tuesday that its September quarter gold production from the Siana gold operation, in the Philippines, would not be affected by a recent material movement at the mine.
Earlier this month, Red 5 reported a significant material movement from the eastern wall into the openpit mine and warned that future mining operations and the mine schedule could be impacted.
A preliminary assessment of the impact to the mining operations had been completed, and found that an earthquake registering 6.1 off the north coast of Surigao del Norte was likely a contributing factor to the incident.
Pit wall stability had been extensively monitored as part of normal operating procedures, and personnel were relocated with the adverse change in stability. The miner noted that all regular operational activities were continuing at the mine site, and mine access ramps to the pit floor had not been affected.
Initial mining engineer work had also concluded that along with the removal of the slumped material in the openpit, the perimeter ring drain on the eastern side of the openpit would need to be extended further east. This was considered an immediate priority and civil works on this would start this week.
Geotechnical studies were also under way to gain further understanding of the rock lithology and material strength, with the drilling of targeted geotechnical holes to start shortly. This information would be included in a future development strategy, which is currently being developed for the Siana project over the life of the openpit.
It was expected that the pit wall movement would have an impact on the medium term mining schedule and would include additional material to be moved from the east side of the pit.
Funding requirements for this work would likely be sourced from internal cash reserves, which currently stood at A$12.8-million.
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