PERTH (miningweekly.com) – Gold miner Havilah Resources has given life to the extended mine life at its Portia gold mine, in South Australia, after signing a memorandum of understanding (MoU) with mining partner Consolidated Mining and Civil Works.
The MoU covers the mining of the southern extension to the Portia gold deposit, under the same 50:50 revenue sharing arrangements as previously employed at the mine.
The southern extension will expand the Portia openpit a further 120 m to the south, and will capture significant additional volume of both high-grade and medium-grade gold mineralisation, and will extend the mine life by a further 12 months.
“We are very pleased to announce the extension of the Portia gold mine, which will result in continuing gold production for at least another 12 months,” Havilah MD Chris Giles said on Thursday.
“Our joint hard-won mining experience at Portia, combined with the infrastructure support now in place means that we have de-risked this second stage of the project to a large degree.”
Giles noted that ongoing drilling would likely outline additional economic gold mineralisation that would allow for the continued expansion of the Portia mine, going forward.
“Our recent pit floor drilling shows we are also in the fortunate position of having significant amounts of gold bearing saprolite material immediately below the current openpit floor that was not included in the original resource.”
Edited by: Creamer Media Reporter
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