In November, Morila treated 544,714 tonnes of tailings at a grade of 0.46g/t gold and produced 4,130 ounces of gold at a recovery of 51%. All-in Cost is approximately
The tailings treatment operations are forecast to produce 4,000 to 4,100 ounces of gold in December and 10,000 to 10,500 ounces of gold in Q1 2021.
Aircore drilling to delineate additional mineralised tailings has been completed and modest extensions to the tailings Resource are expected. The drilling results are currently being modelled and the production plan will be updated.
The Company is applying cash flow from the tailings operations to fund capital works and studies to enable the re-start of open pit mining at Morila. These activities include: Mine planning: Developing a mine plan and schedule for the Morila satellite pits and tender for mining contractors.
Tailings and water management: Reconfiguring the tailings storage facility to cease depositing tailings in the Morila pit and deposit tailings within the existing tailings storage facility footprint and dewatering of the Morila pit.
Plant: Refurbishment of the processing plant.
Satellite Drilling: Drilling at satellite pits to improve confidence and potentially increase resources.
Potential new ore feed: Evaluating stockpiles and potential remnant shallow mineralisation adjacent to the Morila pit evident from new data.
Exploration Drilling: Aircore drilling of targets on the Morila lease and on the adjacent
Since assuming ownership of the mine,
Executive Chairman of
Contact:
Dr
Tel: +61 419 914 988
Email: acowden@firefinchlimited.com
ABOUT
Morila has produced over 7.4 million ounces of gold from open pit mining and processing of stockpiles and tailings over 20 years of Barrick/AngloGold ownership. Hydraulic mining and processing of tailings is providing immediate modest cashflow and the Company plans to increase gold production via open pit mining from Morila, its satellite pits and the Company's Koting discovery on its adjacent
Exploration will focus on growing the Morila resource, defining resources at the Morila satellite pits and the Koting discovery and testing multiple high value targets on the 685km2 of combined tenure. A Definitive Feasibility Study was completed on the Goulamina Lithium deposit in
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