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Swan Gold Mining Limited

Publié le 15 janvier 2008

RIVERINA READY TO ROLL - PROJECT UPDATE

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MEDIA RELEASE                                                                                             

 

15 January 2008

 

RIVERINA READY TO ROLL – PROJECT UPDATE

 

Monarch Gold Mining Company (ASX / DIFX:MON) is pleased to announce further positive drilling results at its high grade Riverina deposit. With approvals received this month, the project is nearing production.

 

Monarch Managing Director Matthew Gill said recent drilling has confirmed the high grade resource at Riverina, and highlighted the potential for extensions outside of the current pit plan.

 

“Riverina is really shaping up, and these further positive drilling results auger well for the Company as it moves to ramp up activity at the project and capitalise on the strong gold prices,” Mr Gill said.

 

Riverina currently has an indicated and inferred resource of 1.64 million tonnes @ 3.8g/t Au for 200,000 ounces. Monarch has committed $11 million this financial year for its exploration programme to increase resources and extend mine life across its Goldfields tenements.

 

Promising intersections from drilling within the optimised pit area at Riverina include:

  • RMRC067; 4m @ 7.09g/t Au from 36m.
  • RMRC068; 8m @ 5.68g/t Au from 24m.

 

Highlights outside the pit area at Riverina include:

  • RMRC051; 6m @ 3.75g/t Au from 36m and 5m @ 65.8g/t Au from 72m (original 4m composite sample assayed at 63.1g/t), east of the main Riverina Pit, and immediately south of the Reggies South optimised pit.
  • RMRC018; 7m @ 5.0g/t Au from 15m.
  • RMRC079; 11m @ 5.32g/t Au from 75m.

These last two intersections are north of the current Riverina pit area and will potentially help add strike length to the main Riverina Pit.

 

Mr Gill said Monarch had brought forward planned mining at Riverina, and was due to commence mining within the first quarter of 2008. The Company has a revised mining plan in place which will deliver a steady but substantial ramp up in production over the next 12 months.

 

“Monarch is unhedged and in production, with the largest Australian-controlled landholding in the Kalgoorlie region,” Mr Gill said.

 

“We are steadily increasing production at Davyhurst, and as we do, our per-unit costs will reduce which is further good news for shareholders,” Mr Kiernan said.

 

Monarch now has the necessary mining and environmental approvals in place to commence operations at Riverina, with its Mining Proposal approved by the Department of Industry and Resources this week.

 

 

For further information, please contact:

 

Michael Kiernan                                                          Warrick Hazeldine

Chairman - 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, 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 four potential production centres in Western Australia:

Davyhurst - gold resources of over 1.5m oz within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production)

Riverina Project - indicated and inferred gold resources totalling 1.64 million tonnes @ 3.8 g/t Au for 200,000oz.

Mt Ida - resources are stated as 143,000t at 24.0 g/t containing 110,650oz of gold within four areas - the Baldock, Whinnen, Meteor and Timoni deposits. Monarch commenced mining gold in July 2007.

Minjar - gold resources of over 400,000oz within a 1,722 sq km tenement package and 600,000tpa gold processing facility (+120,000oz historic production)

Bellevue - gold resources of 120,000oz associated with the historic Bellevue Gold Mine, one of WA’s premier gold operations (750,000oz historic production)

Mt Magnet – gold resource of 2.7m ounces, ground package of 330 tenements covering approximately 1,100 square kilometres and a 2.7mtpa capacity gold processing facility.

 

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.

 

Monarch is focussed on gold production, with a target to be producing 500,000oz per annum by December 2009.

 

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.

 

 

 

 

 

 

 

 

 

 

 

Riverina Drilling Intercepts

 

 

 

 

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    

 

 

 

Swan Gold Mining Limited

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CODE : SWA.AX
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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.

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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
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