Frontier Resources (ASX:FNT) has made its first shipment of gold loaded carbon from the Stormont joint venture with BCD Resources (ASX:BCD) and Torque Mining in Tasmania.
Frontier and Torque share 50% of the project equity, whilst BCD retains the remaining 50% and operatorship.
The project is aiming to produce a total of 12,100 ounces of gold.
Mining of gold ore from the open pit commenced in the second half of December 2013, and the venture is now achieving rates of 600 wet tonnes per day.
Notably, the head grade of ore into the mill is now above 4.5 grams per tonne, and gold recovery rates are exceeding 90%.
Progress to date at Stormont is approaching steady state in line with or above feasibility expectations, including the successful recommissioning of the Beaconsfield carbon in leach processing facility.
Frontier is also involved in a copper-gold porphyry joint venture with Quintesssential Resources (ASX:QRL) on New Britain Island, Papua New Guinea, in addition to wholly owned gold projects elsewhere in PNG.
Frontier is capitalised at around $2 million.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.