Revised mine design pushes up Bullabulling production forecast
PERTH (miningweekly.com) – ASX- and Aim-listed gold developer Bullabulling Gold has again increased its production forecast for its namesake project in Western Australia, following ongoing optimisation work.
A revised mine design for Bullabulling, based on four openpits, was built on a 150 000 oz increase in the total mineral resource, and showed that relocating the power and telecommunication lines would allow two of the four pits to be expanded to capture the additional tonnage.
With the additional resources, the Bullabulling mine was now estimated to deliver 2.56-million ounces over its 13-year mine life, rather than 2.1-million ounces. At the current spot gold price, this additional production would increase the potential net cash flow by about A$35-million, the miner said.
However, Bullabulling pointed out that the production estimate was not based on a mining reserve, as around 15% of the resource tonnage was currently classified as inferred.
The miner intended to carry out infill drilling in the first half of 2014 to reclassify the inferred resource to enable a maiden mining reserve to be declared.
Preliminary discussions have also been launched with power provider Western Power, and telecoms major Telstra regarding the realignment of the power line and communications cable, while Bullabulling has also launched discussions with Main Roads Western Australia regarding the possible relocation of a section of the Great Eastern highway.
A minor realignment of the road and the Goldfields Water Supply pipeline could enable an incremental extension of the Phoenix pit, and this option would be further evaluated at a later stage in the definitive feasibility study.
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