Jan 25, 2021

Gold exploration to resume at NQ Minerals' mine in Australia

Gold
exploration
Australia
Dominic Ellis
2 min
Beaconsfield approval marks an important milestone in bringing this historic gold-rich property back on stream
Beaconsfield approval marks an important milestone in bringing this historic gold-rich property back on stream...

UK and US-traded NQ Minerals reports that permission has been granted to start over 2 kilometres of surface trenching at its Beaconsfield Gold Mine in northern Tasmania.

The company will identify near surface gold deposits to add to the Beaconsfield’s estimated 483,000 ounces of JORC (2012) compliant Mineral Resources (1.454Mt at 10.3 grams per tonne).

David Lenigas, NQ Minerals' Chairman, said the approval marks an important milestone in bringing this historic gold-rich property back on stream. 

"Having acquired Beaconsfield in June 2020, we see scope to identify new and significant shallow ounces of gold that will be incremental to the already known JORC compliant reserves of nearly half a million ounces. 

"The resumption of gold exploration kick-starts an exciting new era at Beaconsfield, with the trenching programme being a precursor to a follow up RC (Reverse Circulation) drill programme, which the Company is aiming to start this quarter.” 

Six costeans are to be progressed covering 2,100 metres. They will test for the surface expressions of the main Beaconsfield gold lodes - the main Tasmania Reef, the Moonlight-cum- Wonder line (to the northwest of the main Tasmania Reef) and the Olive Branch workings – where historically exploration efforts were focused on developing the deeper levels of the mine. 

In addition, the company is completing the final stages of Metallurgical optimisation on the surface stockpiles material within the mining lease, which is now estimated to have 120,000 tonnes grading 3.2 g/t Au. 

This optimisation work has been undertaken to provide specific detail for the Beaconsfield gold plant refurbishment design and engineering, and is expected to be completed by the end of this quarter. 

In May 2017, NQ Minerals acquired the Hellyer Gold Mine in Tasmania which has substantial reserves of high-grade zinc, lead, copper, silver and gold. 

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.

Global energy transition is boosting the market for nickel

The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.

“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.

“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”

Vale continues drilling program at Manitoba

Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.

“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.

“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”

The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history.  Mining of the Thompson orebody began in 1961.

“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.

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