Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Tombola Gold (TBA) makes further progress towards first gold production from its Mt Freda complex in Queensland
  • The company says mining activities are tracking “well ahead” of schedule at the Comstock and Shamrock open pits within the Golden Mile project area
  • Mining production is well underway in the Comstock pit, and production blasting has commenced in the Shamrock pit
  • Tombola has stockpiled more than 15,000 tonnes of ore on the run-of-mine pad for processing, with production exceeding its forecast mining rates of 4500 tonnes per day
  • TBA shares are trading grey at 5 cents each at 11:21 am AEST

Tombola Gold (TBA) has made further progress towards first gold production from its Mt Freda complex in Queensland.

The company said mining activities were tracking “well ahead” of schedule at the Comstock and Shamrock open pits within the Golden Mile project area.

Mining production is well underway in the Comstock pit, with Tombola moving 188,000 total tonnes of ore and waste over the past six weeks.

Tombola has stockpiled more than 15,000 tonnes of ore on the run-of-mine pad for processing, with production exceeding its forecast mining rates of 4500 tonnes per day.

The company said the decision on where and how much of the stockpiled material and future material mined from the pits will be processed will be considered in its project due diligence.

Meanwhile, the company has begun production blasting in the Shamrock pit.

The company said its mining plans had been “significantly exceeded”, boding well for initial gold production at its Mt Freda mine.

“We are pleased to be advancing positively towards first gold production from our 100 per cent owned Mt Freda gold mine in Queensland,” Managing Director Byron Miles said.

“We have an amazing opportunity to quickly become a profitable gold producer from the Mt Freda project in Cloncurry, Queensland, and to use this to leverage our aspiration to become a meaningful Australian gold producer.”

Tombola Gold shares were trading grey at 5 cents each at 11:21 am AEST.

TBA by the numbers
More From The Market Herald

" Creso Pharma (ASX:CPH) signs potential partnership with Gotro for Sierra pet products

Creso Pharma (ASX:CPH) signs a heads of agreement with leading pet care distributor, Gotro Global, to…

" Mighty Craft (ASX:MCL) signs agreement with DB Breweries and Better Beer in New Zealand

Mighty Craft (ASX:MCL) has signed a binding agreement with DB Breweries and Better Beer Company to…
Nordic Nickel (ASX:NNL) - Managing Director, Todd Ross

" Nordic Nickel (ASX:NNL) releases maiden MRE for Hotinvaara Prospect, Finland

Nickel sulphide explorer Nordic Nickel (ASX:NNL) has released a maiden mineral resource estimate (MRE) for the…
Spirit Technologies (ASX:ST1) - CEO and MD Julian Challingsworth

" Spirit Technology (ASX:ST1) appoints Julian Challingsworth as CEO and MD

Spirit Technology (ASX:ST1) has appointed Julian Challingsworth as its new CEO and Managing Director, effective immediately.