Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
AnglaisFrancais
Cours Or & Argent en

Swan Gold Mining Limited

Publié le 05 juin 2008

(ASX:MON) Advancing at Mount Magnet

( 0 vote, 0/5 ) Imprimer l'article
  Article Commentaires Commenter Notation Suivre la société  
0
envoyer
0
commenter

 

 

 

 

ASX/ MEDIA RELEASE                                                                             5 JUNE 2008                                               

 

 

MONARCH ADVANCING AT MT MAGNET

 

- MARKET UDPATE -

 

Highlights

 

?         High level optimisation studies confirm positive results from Mount Magnet resources.

?         At A$1,000 per ounce and using current costs, resources modelled returned positive cashflows of $111.8 million.

?         Exploration program in place to expand gold resources, and investigate iron ore potential.

 

Monarch Gold Mining Company (ASX /DIFX:MON) has hit the ground running at the Mount Magnet Project, with early optimisation studies delivering positive results for open cut and underground operations.

 

Monarch agreed to purchase Mount Magnet from Harmony Gold in November 2007, and formally took possession of the project in April.

 

Managing Director Ian Huitson said the Company has immediately commenced preliminary studies on the Mount Magnet Project to capitalise on the established 2.9 million ounce gold resource base, as well as leverage the large landholding package with drilling programs.  

 

?We are reviewing the significant data package from the Mount Magnet project, and are advancing scoping level optimisation studies on open cut and underground resources,? Mr Huitson said.

 

?The outcomes to date have been positive and will be followed by more detailed studies, along with ongoing exploration to further define and expand the resource base.?

 

?We are putting a program of drilling and sampling together across the 1,100km2 tenement both for gold, and to explore untested iron ore potential,? Mr Huitson said.

 

Optimisation studies deliver

 

The Mt Magnet project total resource stands at 28.2 Mt at 3.2 g/t Au for a contained 2.9 million ounces of gold, with 19.4 Mt at 3.3 g/t Au for 2 million ounces in the Measured and Indicated category.

 

Mr Huitson said preliminary high level scoping optimisation studies completed on 19 modelled open pit resources at Mt Magnet have shown early stage potential to provide positive results. Significant further work is required to confirm and realise the potential.

 

Resource modelling conducted at A$1,000 per ounce and using current costs had returned positive cashflows of $111.8 million.

 

?Ore tonnes generated totalled approximately 4.3 million tonnes at an average grade of 2.4 g/t gold, at average cash cost of A$640 per ounce and generated some 310,000 ozs of gold,? Mr Huitson said.

 

?Work is now in progress to determine the scope to expand the individual deposits with further drilling, to upgrade the resource classifications and further refine the scoping studies,? Mr Huitson said.

 

Monarch has also commissioned a high level scoping study into the potential of re-opening the Hill 50 underground mine. This study has indicated that at A$957 per oz and subject to confirmatory drilling, a viable underground mine exists.

 

On this basis the mine would generate an operating surplus of A$16 million per year over an initial three years, producing 50,000 ozs per year at a head grade of 8.8g/t Au.

 

Studies have indicated that the lower levels of the mine have shown increased resource ounces per vertical metre from the historical average of  +/- 600 ozs Au/vm to 900 to 1,200 ozs Au/vm. This would need to be confirmed by further drilling.

 

The Hill 50 underground resource currently stands at 1.6 Mt at 6.6 g/t Au for 340,000 ozs, of which 1.2 Mt at 6.7 g/t Au for 258,000 ozs is in the Measured and Indicated categories. The deposit is open at depth.

 

Exploration

 

Gold

 

Monarch commenced a 3,000m exploration RC drilling programme during May 2008, following a review of available data. The program will focus on the Hill 50 and Saturn Bars, which have been poorly tested in the Brown Hill and West Saturn areas.

 

Boogardie Break structures, known to host and control gold mineralisation in the Mt Magnet district, are seen to cross-cut the prospective Banded Iron Formation (BIF) horizons. The potential of these areas has been developed from interpretation of re-processed magnetic data.

 

Results are expected in the next few weeks.

 

Iron Ore

 

The Mt Magnet area contains significant occurrences of BIF which have not been assessed for their potential to host economic concentrations of Iron Ore.

 

Utilising geophysical data, geological mapping and ground assessment, the potential exists for significant tonnages of iron ore formation (200 million tonnes). Monarch is currently carrying out a channel rock chip survey across the BIFs to determine an indicative Fe content prior to considering a drilling assessment.

 

 

For further information, please contact:

 

Ian Huitson                                                                              Warrick Hazeldine

Managing Director - Monarch Gold                                           Purple Communications

Tel: 08 9481 6422                                                                      Tel: +61 (0)8 9485 1254                                                                                                

Mob: 0417 944 616       

 

 

Background

 

The Company has a resource base of more than five million ounces, two state-of-the-art gold treatment plants (Davyhurst and Mt Magnet), and has dominant ground positions in the prolific gold mining region to the north-west of Kalgoorlie.

 

Monarch now has the largest Australian-controlled ground position in the Kalgoorlie region and an expanded footprint in the Mount Magnet region.

 

Monarch remains firmly on track with its production targets, with mining commenced at the Davyhurst and Mt Ida projects.

 

Growth Strategy

Monarch?s growth strategy is focused on two major potential production centres in Western Australia:

Davyhurst Gold Project ? Davyhurst Project gold resources of over 1.5 million ounces (comprising Measured ? 0.26MT @ 3.1 g/t Au, Indicated ? 12.38MT @ 2.3 g/t Au, Inferred ? 6.89MT @ 2..4 g/t Au within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production). First bullion was poured in August 2007.  Davyhurst Gold Project incorporates the Riverina Project ? 200,000 ozs (comprising Indicated ? 1.46MT @ 3.5 g/t Au, Inferred ? 0.18MT @ 5.6 g/t Au) and also the Mt Ida Project ? 111,000 ozs (comprising Measured ? 55,000T @ 32.8 g/t Au, Indicated ? 6,000T @ 33.8 g/t Au, Inferred ? 83,000T @ 17.5 g/t Au   within four areas - the Baldock, Whinnen, Meteor and Timoni deposits. Monarch commenced mining gold in July 2007.

Mt Magnet Gold Project ? gold resource of 2.9 million ounces (comprising Measured ? 2.9MT @ 2.5 g/t Au, Indicated ? 16.5MT @ 3.5 g/t Au, Inferred ? 8.8MT @ 3.0 g/t Au), a ground package of 330 tenements covering approximately 1,100 square kilometres and a 2.7mtpa capacity gold processing facility (+10 million ounces of current resources and past production).

 

Monarch?s strategy has been to capture opportunities for the consolidation of gold development assets which have not in the past realised their full potential, either due to a lack of capital or to limited exploration.

 

 

For further information visit: www.monarchgold.com.au

 

 

So far as it relates to ore and mineralisation, this report is based on information compiled by John Davis, who is a Member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientist. Mr Davis has sufficient experience which is relevant to the style of the mineralisation and type of deposit under consideration and to the activity which he is undertaking, to quality as a Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting for Exploration Results, Minerals Resources and Ore Reserves. Mr Davis is a full time employee of the Company.. This report accurately reflects the information complied by Mr Davis. Mr Davis has consented to the inclusion of this information in the form and context in which is appears in this report.

 

 

Monarch Gold Mining Company

Projects

 

 

 

***

The new Spam Act commenced on 10 April 2004. This Act is aimed at reducing the amount of unauthorised emails you receive.  You have been receiving e-mails containing information and news releases from us on behalf of our clients because you are an important contact of Purple Communications, a boutique stakeholder communications consultancy.   If you do not wish to receive such emails from Purple, please click mailto: purple@purplecom.com.au subject=UNSUBSCRIBE or reply to this email and put UNSUBSCRIBE in the subject line and we will not email you again.

 If you do not reply, we will continue sending you relevant news and information via email. However, all future emails will allow you to unsubscribe.

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

 

 

 



Message protected by MailGuard: e-mail anti-virus, anti-spam and content filtering.
http://www.mailguard.com.au/mg
 
 

Swan Gold Mining Limited

PRODUCTEUR
CODE : SWA.AX
Suivi et investissement
Add to watch list Add to your portfolio Add or edit a note
Ajouter une alerte Ajouter aux Watchlists Ajouter au portefeuille Ajouter une note
ProfilIndicateurs
de Marché
VALEUR :
Projets & res.
Communiqués
de Presse
Rapport
annuel
RISQUE :
Profile actifs
Contactez la cie

Swan Gold Mining est une société de production minière d'or basée en Australie.

Swan Gold Mining détient divers projets d'exploration en Australie.

Ses principaux projets en production sont LA CAMORRA MILL au Venezuela et MINJAR et MOUNT MAGNET en Australie et ses principaux projets en exploration sont BELLEVUE PROJECT, LONDONDERRY, YERILLA et REPUBLICAN en Australie.

Swan Gold Mining est cotée en Australie. Sa capitalisation boursière aujourd'hui est 27,1 millions AU$ (25,1 millions US$, 16,3 millions €).

La valeur de son action a atteint son plus bas niveau récent le 05 novembre 2009 à 0,29 AU$, et son plus haut niveau récent le 04 juillet 2014 à 2,95 AU$.

Swan Gold Mining possède 91 850 000 actions en circulation.

Votre avis nous interesse, merci de laisser un commentaire ou de noter cet article.
Evaluer : Note moyenne :0 (0 vote) Voir les mieux notés
 
Rapports annuels de Swan Gold Mining Limited
2007 Annual Report
2005 Annual Report
2003 Annual Report
Nominations de Swan Gold Mining Limited
14/08/2007APPOINTS MATTHEW GILL AS MANAGING DIRECTOR
Projets de Swan Gold Mining Limited
05/06/2008(Mount Magnet)(ASX:MON) Advancing at Mount Magnet
15/04/2008(Mount Ida)High Grade Expansion at Mount Ida
19/03/2008(Mount Magnet)MOVING FORWARD WITH MOUNT MAGNET
06/11/2007HITS MORE HIGH GRADE GOLD
04/09/2007INTERSECTS HIGH GRADE GOLD
07/08/2007(Davyhurst)POURS FIRST GOLD
17/04/2007(Davyhurst)$6 Million Exploration Program
Communiqués de Presse de Swan Gold Mining Limited
03/07/2009Creditors Accept Stirling Proposal
07/07/2008Advances with $30m Go Forward Funding
08/04/2008Sells Minjar Gold Project
04/02/2008finalizes Mt Magnet purchase agreement
15/01/2008RIVERINA READY TO ROLL - PROJECT UPDATE
16/11/2007ANNUAL GENERAL MEETING
08/11/2007 ACQUIRES HILL 50 GOLD
23/10/2007TARGETS RE-RATING THROUGH TSX LISTING
03/10/2007CAPITALISING ON GOLD GROWTH
07/08/2007LAUNCHES SIGNIFICANT EXPLORATION PROGRAM
06/08/2007CONTINUES EXPANSION
06/08/2007commits funds to Kalgoorlie community housing project
05/08/2007UPDATE: commits funds to Kalgoorlie community housing proje...
08/06/2007EXTENDS RICH MT IDA ACQUISITION
17/05/2007Gears Board for Production
14/05/2007Explores Listing on Dubai Exchang
11/05/2007Placement and entitlements Issue
Publication de commentaires terminée
 
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
AUSTRALIA (SWA.AX)
0,295+5.36%
AUSTRALIA
AU$ 0,295
13/06 21:06 0,020
5,36%
Cours préc. Ouverture
0,280 0,280
Bas haut
0,280 0,295
Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
- -  0,295 -90,00%
Volume var. 1 mois
150 885 -90,00%
24hGold TrendPower© : 34
Produit Gold
Développe
Recherche Gold
 
 
 
Analyse
Interactive chart Add to compare
Graphique
interactif
Imprimer Comparer Exporter
Vous devez être connecté pour accéder au portefeuille (gratuit)
Top Newsreleases
LES PLUS LUS
Variation annuelle
 
Graphique 5 ans
 
Graphique 3 mois
 
Graphique volume 3 mois
 
 
Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
7,05 AU$-0,84%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
2,20 AU$+0,00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,86 AU$+0,00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 CA$+4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
7,04 US$-1,81%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,70 GBX-2,91%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,08 CA$-21,05%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
1,97 CA$+4,79%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
9,41 CA$+2,84%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,18 CA$-5,41%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,32 AU$+3,23%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
2,30 CA$+0,88%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
62,20 US$+1,58%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,03 AU$+12,00%Trend Power :