• Gold Price USD $1,409.10
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Murchison Gold Portfolio

Quick Facts

Location Murchison Area, Western Australia, 765km Northeast of Perth
Murchison Area Properties 258.7 km2
Ownership 100%
Mine Type Open Pits/Underground
Deposit Type Gold
Plant Capacity 260,000 tpa*
Mine Start-up Estimated 3 to 6 months from financing completion
NI 43-101-Indicated Resources 293 Koz
NI 43-101-Inferred Resources 88 Koz
Historical Resources** 644 Koz
Estimated Mine Life N/A

*tpa-tonnes per annum **Historical Resources at time of acquisitions

 

Burnakura Plant and Pit Areas

 

Overview

The Murchison Gold Portfolio includes the Burnakura property (“Burnakura”), Gabanintha property (“Gabanintha”) and Tuckanarra property (“Tuckanarra”).

The Burnakura and Gabanintha properties are 40km southeast of Meekatharra and 765km northeast of Perth. Tuckanarra is located 750km northeast of Perth and straddles the Great Northern Highway to the south of Meekatharra, and southwest of Burnakura.

The Burnakura property was acquired in February 2014 including a fully operational 260KTPA gold processing plant, 118 man mine camp, and associated infrastructure buildings. The Burnakura property comprises six granted mining leases; five granted prospecting licences and three granted exploration licences. Since acquisition the Company has undertaken exploration and confirmation drilling programs, infrastructure improvements, and extensive mine planning work for the preparation of the early stage of production. The Burnakura Property has Indicated Resources of 293Koz and Inferred Resources of 88K0z as reported in the NI43-101 Mineral Resource (SRK Consulting-Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia NI43-101 Technical Report, dated July 17, 2018).

The Gabanintha property was also acquired in February 2014 along with the Burnakura property and infrastructure. Gabanintha has a historical resource of 153koz, and is within trucking distance to the Burnakura plant. The Gabanintha package consists of two mining leases, three exploration licences, and eighteen prospecting licences.

The Tuckanarra property was purchased in November 2014 as a strategic move to consolidate a large land position in the prospective Murchison historic gold producing region in Western Australia. Tuckanarra consists of two exploration licenses, six prospecting licenses and a mining lease. The property contains approximately 80,000 historical Indicated and Inferred JORC compliant ounces of gold. Tuckanarra is within trucking distance to the Burnakura mill facility.

Murchison Road Map to Production

2014
February 2014
Acquisition of Murchison Gold Project ($15m)
2014
November 2014
Acquisition of Tuckanarra Gold Property ($4m)
2014 ~ 2015
2014 ~ 2015
Completion of Drilling Program at ANA, Federal City
2015
April 2015
Filed NI 43-101 Resource Estimate on ANA
2015 ~ 2017
2015 ~ 2017
Completion of drilling programs at NOAs and crushing plant upgrade ready for installation; completion of initial economic assessment for CIL/HL production
2018
Completion of 1st UG drilling at NOA7/8
Optimize economic study to include underground mining potential; completion of FEED study for CIL process only option with additional 500Ktpa mill
2018
February 2018
Commenced underground mining scoping study, to be included in the PEA
2018
May-October 2018
Completed three drilling programs: ANA Deep Pit Drilling, NOA 7/8 Deep Exploration, and Burnakura Shallow Oxide; results have positive geological implications
2018
July 2018
SEDAR filed NI 43-101 Updated Mineral Resources that included ANA, NOA 1 to 8, Federal City and Authaal

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