Orminex Limited announced it has received confirmation from its strategic partner, underground mining contractor GBF Mining Pty Ltd (‘GBF’), that mining has commenced at the Comet Vale project in the Goldfields region of Western Australia.
GBF has commenced work on a decline which marks the commencement of the 27 month mine plan for the Comet Vale project. The completed open pit provides the access for the portal and the decline development.
The ongoing development of the decline will provide access for stope development and descend down to the 6th level approximately 200m below surface.
The Company expects mining activity at Comet Vale will operate with a small, efficient crew which is controlled by GBF for the duration of the 27 month mine plan.
The move to production at Comet Vale is a key aspect of the Company’s Mineral Ventures model, which sources, funds and mines high-grade gold projects.
As announced on 3 May 2018, GBF recently signed a toll milling agreement with Eastern Goldfields Milling Services to process ore at the Burbanks mill, located near Coolgardie approximately 150 km from Comet Vale and easily accessible via road.
The Company will update shareholders as mining progresses at Comet Vale.
The Comet Vale Project is recorded as hosting a combined JORC 2012 compliant Indicated and Inferred Mineral Resource of approximately 0.75 million tonnes at 8.4g/t for 203,100 ounces of gold. The Sand George deposit is predominantly an underground resource.
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