Overview
Stage | Production |
Mine Type | Open Pit & Underground |
Commodities |
|
Mining Method |
- Truck & Shovel / Loader
- Sub-level stoping
- Longhole open stoping
- Cemented rockfill
- Unconsolidated rockfill
|
Production Start | ... |
Mine Life | 2034 |
The Mt Magnet production centre includes the multi pit / underground projects of the Mt Magnet Operation along with high-grade underground ore hauled from the Vivien and Penny Gold Mines. The Cue Gold Project, acquired by Ramelius in 2023, will be integrated into the Mt Magnet operations hub in Q1 CY2024.
Underground operations commenced at the high-grade Penny Gold Mine late in the 2022 financial year.
The last load of ore was trucked from Vivien to Mt Magnet in January 2023 with the mine placed into care and maintenance shortly thereafter. |
Source:
p. 13-14
The Mt Magnet is owned 100% by Ramelius Resources Ltd. subsidiary Mt Magnet Gold Pty Ltd.
The Penny is owned 100% by Ramelius Resources Ltd. subsidiary Penny Operations Ltd.
Contractors
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Deposit Type
- Vein / narrow vein
- Banded iron formation hosted
Summary:
The Mt Magnet production centre includes the multi pit / underground projects.
Mt Magnet
Archaean gold mineralisation. Mineralisation is principally hosted within Banded Iron Formations (BIF) where gold is spatially associated with NE trending faults and associated with pyrrhotite or pyrite mineralisation. Additionally, gold is commonly found in late stage felsic intrusives or structurally controlled zones which cross-cut stratigraphy on NE trend. Interpretation for Mt Magnet resources is based on a long-history of exploration, open-pit and underground mining. Numerous geological interpretations, pit fact maps and reports exist & almost all resources (except Eridanus) have been previously mined.
Dimensions
Numerous variations. Examples: Saturn pit cutback 700m long, 350m wide & 190m deep. Main Saturn BIF hosted ore zone strikes length of pit, is 5-30m wide, subvertical and currently drilled to 350m vertical depth. Higher grade zones typically occurring as vertical shoots in BIFs. Minimum width in resource interpretations generally 3-4m, example Golden Stream narrow sub-vertical BIF hosted resource over 270m strike length, drilled to 90m down-dip.
Penny
The Penny deposit lies within the Archaean-aged Youanmi greenstone belt. Host stratigraphy for the deposit is a sequence of steeply dipping mafic and ultramafic rocks with minor felsic intrusives. Gold mineralisation is associated with steeply east dipping, quartz-sulphide veins t ........
Mining Methods
- Truck & Shovel / Loader
- Sub-level stoping
- Longhole open stoping
- Cemented rockfill
- Unconsolidated rockfill
Summary:
The Mt Magnet production centre includes the multi pit / underground projects of the Mt Magnet Gold Mine along with high grade underground ore which is hauled from the Vivien and Penny Gold Mines.
Eridanus, Morning Star and most Mt Magnet deposits, Rebecca, Tampia, Symes & Marda are modelled as open pit deposits. Factors include potential pit depths, minimum mineralisation widths and economic cutoffs based on current contract mining equipment and milling facilities. UG deposits, including Galaxy, Hill 60, Shannon, Vivien, Edna May lodes and Penny are modelled with consideration of extraction by conventional sub-level open stoping methods. Edna May, Galaxy and Eridanus models are generated as bulked low grade models for open pit evaluation and bulked underground mining scenarios.
MT MAGNET GOLD MINE
Open pit operations at the Mt Magnet Gold Mine focussed on Eridanus and Orion in 2023.
Mining of Eridanus has now progressed past the lower-grade portion of the ore body and accordingly grades are expected to increase in the 2024 financial year. The Orion pit provided a new source of oxide material for the mill during 2023 year which enabled mill throughput rates at Mt Magnet to be increased. A stockpile of this softer oxide material was on hand at the end of 2023 year for future use to maintain the optimal blend for the processing plant.
There were three underground mines in operation at Mt Magnet during the 2023 financial year; ........
Source:
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Source:
Summary:
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Source:
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Reserves at September 15, 2023:
Cut Off grades applied at Mt Magnet to 0.9g/t.
A maximum A$2,700/oz gold price has been used to estimate Ore Reserves and determine appropriate cut-offs.
Mineral Resources are reported inclusive of Mineral Reserves.
Category | Tonnage | Commodity | Grade | Contained Metal |
Proven
|
7,300,000 t
|
Gold
|
0.6 g/t
|
140,000 oz
|
Probable
|
7,680,000 t
|
Gold
|
2.6 g/t
|
640,000 oz
|
Proven & Probable
|
14,980,000 t
|
Gold
|
1.6 g/t
|
780,000 oz
|
Measured
|
9,448,000 t
|
Gold
|
1.4 g/t
|
417,000 oz
|
Indicated
|
35,310,000 t
|
Gold
|
1.9 g/t
|
2,120,000 oz
|
Inferred
|
15,087,000 t
|
Gold
|
1.7 g/t
|
847,000 oz
|
Total Resource
|
60,440,000 t
|
Gold
|
1.8 g/t
|
3,420,000 oz
|
Corporate Filings & Presentations:
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