Red Mountain’s scoping study narrows focus to higher-grade resource
JOHANNESBURG (miningweekly.com) – ASX-listed junior Red Mountain Mining’s assessment of the potential of a gold-mining and processing operation at its Batangas gold project, in the Philippines, was nearing completion, MD Jon Dugdale reported on Tuesday.
The Perth-based miner’s scoping study, which started in September last year, was now targeting the initial mining and processing of a lower-tonnage higher-grade processing plant at Lobo, close to the South West Breccia resource, before shifting to the larger, lower-grade Kay Tanda West resource at the Archangel site.
Dugdale said in a statement that the new focus at Lobo was expected to “greatly” reduce capital expenditure and minimise the environmental footprint, while enhancing overall economic returns.
“The scoping study is likely to demonstrate a low capital cost, practical, proven technology-based gold project that takes advantage of our existing high-grade, close-to-surface, gold resources with demonstrated high recoveries from carbon-in-leach processing,” he said.
Following the completion of the scoping study and financial modelling, Red Mountain said it would contemplate committing to a bankable feasibility study and final permitting to fast-track the project to production.
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