Theta Gold Mines Ltd (ASX:TGM) has received encouraging high-grade gold assays from grab samples taken at the historical Desire and Beverly Hills Mines in South Africa.
Notably, high-grade ore samples swept from new historical mines include:
- Beverly Hills sweepings grabs – 15.79g/t gold and 4.37g/t gold;
- Beverly Hills chip samples – 11.79g/t gold; and
- Desire sweepings grabs – 14.27g/t gold and 10.79g/t gold.
The company has made strong progress in its definitive feasibility study (DFS), currently at 80% completion for its TGME Underground Project.
Looking ahead, Theta is on track to complete the DFS for TGME in the June quarter of 2022.
“Very encouraging”
Theta chairman Bill Guy said: “The results of the grab samples taken at both Desire and Beverly Hills Mines are very encouraging as the results indicate high grades within these mines.
“The Beverly Hills Mine is currently planned and scheduled as part of the Frankfort Mines life of mine.
“The Desire Mine hosts a large flat reef system, the results of the high-grade grab samples are consistent with historical mine evaluation plans.
“The Desire Mine will undergo further sampling and test work as part of the continuous exploration of the 43 historical mines under management.
“The permanent onsite team will continue with sampling and exploration work."
Feasibility study progress
The underground gold project DFS started in September 2021 is progressing well, it is currently 80% complete, with final completion expected in the June quarter of 2022.
In support of the feasibility study, metallurgical test work, mine designs, geotechnical studies, and underground investigations are now nearing completion.
In addition to the metallurgical test work undertaken for the preliminary feasibility study (PFS), a further bulk sample was taken from Frankfort Mine by trenching the reef accumulation generated by the trial mining, providing a representative sample in terms of ore variability and particle size distribution.
A comprehensive gravity survey was conducted by Applied Scientific Services and Technologies at Frankfort, Beta and CDM mines, and at the central Tailings Storage Facility (TSF).
Furthermore, underground expeditions are continuously conducted by the mining team into the four mines that form part of the phase 1 project, as well as other mines that will be included in subsequent phases of development.
Plant demolition
As part of the preparation for the installation of the first phase new gold plant, TGME has appointed the services of Jet Demolition to remove the redundant plant equipment.
Specialised equipment is used for demolition, after which it is reduced in size and made ready for transport to scrap merchants.
Environmental scoping
The final scoping report for the environmental authorisation permitting process for the 83 MR underground project was submitted to the Department of Mineral Resources and Energy (DMRE) on February 3, 2022.
In addition, various stakeholder meetings took place before the submission of the final scoping report as part of the required public participation process.
Moving forward, the final scoping report will now be assessed by the DMRE and once approved the process will move to the environmental impact assessment (EIA) phase of the project.
Forward plan
Theta has made strong progress across its DFS plant demolition and environmental scoping deliverables.
Guy adds: “The team is on track to complete the DFS in the second quarter of 2022.
“The geotechnical investigations were conducted according to plan with encouraging results.
“Metallurgical test work continued with bulk samples (around 1.5 tons per mine) taken from the Rietfontein and CDM Mines.
“These samples are currently at the laboratory.
“The team has completed the final permitting scoping phase for Mining Right 83.
“The final scoping report will now be assessed by the DMRE and once approved the process will move to the environmental impact assessment (EIA) phase of the permitting process.”