Manuka Resources (ASX:MKR) has recommenced gold production at its Mt Boppy project in NSW’s Cobar Basin.
Highlights:
- The outlook for gold production from Mt Boppy remains consistent with the forward planning provided in the February 2023 Strategic Exploration Review which highlighted production ramping up to between 20~25,000ozpa of gold for ~3 years.
- The recommencement of gold production will underpin organically funded exploration of the priority targets identified in the Strategic Exploration Review.
- Near-mine gold exploration and drilling will aim to delineate indicated resource targets of 250,000-530,000oz at +2.5g/t gold.
There exists a number of highly prospective base metals exploration targets on Manuka’s ~1,150sq. km tenement package within the Cobar Basin.
The Taranaki VTM Iron Sand Project recently released its maiden vanadium resource which ranks it as one of the largest drilled vanadium projects globally. The Project has a granted mining licence and is in the lowest quartile of the iron ore production cost curve. The Company awaits the reissuance of its Environmental Approval before completing its Bankable Feasibility Study.
▪ Gold – Mt Boppy Gold mine and neighbouring tenements, hosting an existing open pit resource2 of 281,850t grading 4.95g/t gold, based on a cut-off grade of 1.6g/t for material within its current open pit design and a cut-off grade of 3.0g/t for material below the current pit design. The Mt Boppy project having ceased current open pit mining activities in Q4 2021, is in advanced exploration as additional exploration is conducted beneath the pit floor and nearby prospects. In addition, Manuka has identified a number of stockpiles and tailings deposits which are being evaluated for economic processing.
▪ Silver – Wonawinta silver project, with mine, processing plant and neighbouring tenements, hosting 51 million ounces of silver in a JORC resource3 grading 42g/t silver at a cut-off grade of 20g/t silver. The Wonawinta processing plant has a nameplate capacity of >850,000t per year. The Company has recently completed a plant and metallurgical recovery optimization.
For further information please visit: https://www.manukaresources.com.au
