- Laneway Resources has met the production targets at its Agate Creek Gold Project.
- Mining is expected to continue for another 10 to 12 weeks.
- New targets have been mapped for the discovery of more ore reserves at the project.
Exploration company Laneway Resources is continuing to meet targets, with over 13,000 tonnes of ore mined from its fully owned Agate Creek Gold Project in North Queensland. From this, 11,000 tonnes
Following the successful high-grade ore mining, the company conducted its first gold pour at the site during April. Which they gained within ten weeks of receiving the mining lease.
By the end of April, Laneway Resources recovered 2,220 ounces of gold from 5012 tonnes of ore from the Agate Creek project. Results from the Black Jack processing plant show the reconciled grade of gold at 13.19 g/t and recovery at the processing plant averaged 99 per cent. Overall during April, Laneway Resources sold 1,859 ounces of refined gold.
Laneway Resources has an agreement with Maroon Gold which allows a toll treatment up to 100,000 tonnes of ore to be processed through the Black Jack Processing Plant. Initially the company was processing 12 tonnes per hour, during April this increased to 16 tonnes per hour and
Mining at Agate Creek is in continuation and is expected to go for another 10 to 12 weeks. With transportation to the Black Jack Processing Plant expected to continue for an extra two weeks after mining concludes. Additionally, a 1,110 metre RC drilling site has been mapped out at Agate Creek, which will target a number of potential high-grade ore reserves.
Funds gained from the ore production at Agate Creek will be used to expand the project site as well as increase exploration at their Ashford Coking Coal Project in New South Wales and at their New Zealand Gold Project, according to the company.