Following the completion of an Enhanced Feasibility Study (EFS), Mincor Resources has approved the development of its wholly-owned Widgiemooltha Gold Project in Western Australia.
The mine’s development is valued at approximately $2.2 million, with 71,700 ounces of gold to be produced over an initial two-year mine life.
Westgold Resources has signed a one-year toll treatment agreement with Mincor, with which Westgold will be processing ore from the mine at its Higginsville processing plant beginning in July 2018.
Goldfields Technical Services has been appointed to oversee the mine's daily operations, and Mincor has also signed a mining and technical services agreement with Hampton Transport Services.
Mincor’s Managing Director Peter Muccilli said: “With start-up gold reserves of 77,000 ounces, the Widgiemooltha Gold Project is expected to generate cash-flow for the company for the next two and a half years, with potential to extend mine life through further exploration success. The engagement of highly respected project managers, Goldfields Technical Services, to oversee day to day operations at Widgiemooltha allows Mincor’s technical team to focus on delivering its nickel sulphide exploration strategy at Kambalda.”
Mobilisation and pre-production activities are already underway at the mine, with mining activities set to commence this month.
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Source: Australian Mining, Business News WA, Mincor Resources