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Australia
Mt Freda Project

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 Location:
39 km SE from Cloncurry, Queensland, Australia

  Project Contacts:
Level 14, 309 Kent Street
Sydney
New South Wales, Australia
2000
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Fax+ 61-2-9994-8008
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  • Overview
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  • Geology
  • Mining
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  • Filings & News

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Overview

StageConstruction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life2.5 years (as of Jan 1, 2021)
Mining is already underway. Mt Freda ore to be processed on-site at Vat Leach CIC Processing Plant – construction is underway. Production is scheduled for Q3, CY2022.


Owners

Source: p. 11
CompanyInterestOwnership
Queensland Mining Corp Ltd. 20 % Indirect
Tombola Gold Ltd. 80 % Indirect
The mining leases ML2741, ML2742, ML2750, ML2752, ML2763 & EPM14163 are owned 100% by Spinifex Mines Pty Ltd. Ausmex Mining Group Limited owns 80% of Spinifex Mines Pty Ltd. Queensland Mining Corporation Limited owns 20% of Spinifex Mines. Mt Freda comprises mining leases ML2741 and ML2752.

Ausmex Mining Group Limited change the name of the Company to Tombola Gold Ltd.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Epithermal


Summary:

The mineralisation at Mt Freda is concentrated in a west-northwest trending outcropping fault gouge extending over a length of about 600 metres, that dips steeply to the south. Geophysical surveys correlate with outcropping geology and indicate that a conductive feature runs approximately 2,000m under cover from within the Mt Freda pit, to the north west into EPM14163. Gold mineralisation is located on the contact of the Mt Norna formation with the overlying Toole Creek Volcanics.

Drilling has defined the mineralisation to a depth of approximately 280 metres below surface, or about 220 metres below the floor of the existing open pit. The deposit lies in the Cloncurry district, which is characterised by Paleoproterozoic cover sequence rocks. Rock sequences in this zone are intruded by a number of metamorphic intrusions that are predominantly potassic in nature.

Mt Freda displays an epithermal style of mineralisation, potentially stemming from a deeper mafic source, as defined by Emeritus Professor Ken Collerson.

The mineralisation at Mt Freda is hosted in a volcano-sedimentary sequence predominately composed of basalts and sandstones. Mineralisation is not considered to be confined to a particular lithology.

The mineralisation at Mt Freda, indicated by elevated gold grades, appears to be structurally controlled and is associated with shearing, brecciation and quartz veining. The majority of the mineralisation forms a single lens di ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mining will be by conventional open pit mining methods, with drill and blast followed by load and haul using backhoe excavators and haul trucks. Drilling and blasting will be performed on 10 m flitches and 20 m benches, as will loading of the blasted material. Where possible in the near-surface weathered zone, “free dig” mining will be carried out (i.e., without drilling and blasting). Ripping by bulldozer may also be employed in transitional to reduce the quantity of drilling and blasting required.

The envisaged scale of mining at the Mount Freda deposit is relatively small scale with a peak total material movement of approximately 825 ktpm (for a six-month duration). The annual processing plant feed requirement is approximately 0.3 Mtpa (25 ktpm).

Pushback 2 is a continuation of the Pushback 1 to final depth and will allow for continued plant feed during the increased stripping of the Pushback 3. Approximately 4.5 Mt of waste is required to be stripped in Pushback 3 prior to access to any substantive quantity of process feed.

To ensure plant throughput is maintained, additional equipment will need to be mobilised in Month 11 in order to increase the waste stripping capability of the fleet from 230 ktpm to 800 ktpm from Month 12 to Month 19, with an allowance of one month for ramp-up/ramp-down. The Pushback 3 steady state waste stripping rate thereafter is on average 430 ktpm. Failure to achieve the increased waste stripping requirements and ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:
RF 1 pit shell 36 was selected for the basis of the detailed pit design process.

CommodityUnitsLOM
Gold koz 57
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Plant annual capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
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Reserves at February 28, 2021:
A cut-off grade of 0.5 g/t Au has been assumed to calculate potential open pit Mineral Resources above the 160 RL (around 120 m below the original topography). Below this level, a 1.0 g/t Au cut-off has been assumed for potential underground Mineral Resources.

CategoryOreTypeTonnage CommodityGradeContained Metal
Indicated In-Situ (OP) 380,000 t Gold 2.68 g/t 32,800 oz
Indicated In-Situ (UG) 233,000 t Gold 3.25 g/t 24,400 oz
Indicated Total 613,000 t Gold 2.91 g/t 57,300 oz
Inferred In-Situ (OP) 143,000 t Gold 2.24 g/t 10,300 oz
Inferred In-Situ (UG) 250,000 t Gold 2.29 g/t 18,400 oz
Inferred Total 393,000 t Gold 2.27 g/t 28,700 oz
Total Resource In-Situ (OP) 524,000 t Gold 2.56 g/t 43,200 oz
Total Resource In-Situ (UG) 482,000 t Gold 2.76 g/t 42,800 oz
Total Resource Total 1,006,000 t Gold 2.66 g/t 86,100 oz

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Gross revenue (LOM) $M AUD  ......  Subscription required
Operating margin, %  ......  Subscription required
Operating margin (LOM) $M AUD  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 21, 2022
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Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
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