Spring Hill gold project, Australia
Name and Location
Spring Hill gold project, Northern Territory, Australia.
Client
Thor Mining.
Project Description
The Spring Hill gold project, located about 150 km south of Darwin, in Australia’s Northern Territory, has an undiluted resource estimate of 6.9-million tonnes at 1.74 g/t of gold at a cutoff grade of 0.7 g/t.
Initial ore extraction will be from the near-surface oxide portion of the resource.
The plan is to mine up to 900 000 t of ore from upper portions of the resource to yield between 40 000 oz and 45 000 oz of gold over two to three years.
Value
The cost of the project is estimated at less than A$5-million. The principal capital expenditure requirements include the establishment of a waste dump, minor pads, the construction of a road from the pit to existing rail tracks and the upgrade of those tracks to where they meet existing public roads.
Duration
Not stated.
Latest Developments
Thor is preparing for the development of the Spring Hill mine within 12 months.
A notice of intent (NOI) has been lodged with the Northern Territory Department of Mines and Energy. Assessment of the NOI will determine the level of environmental and other regulatory compliance required and, therefore, an estimate of approval timing.
Thor notes that while this process should not be underestimated, it is expected that a proposed mining operation, which requires a processing plant or a tailings storage facility and is not expected to generate acidic liquor from waste dumps, will face comparatively fewer environmental hurdles.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Thor Mining, tel +61 8 7324 1935, fax +61 8 8351 5169 or email corporate@thormining.com.
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