Australia

Mt Freda Project

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Overview

Mine TypeOpen Pit
StageConstruction
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life2.5 years (as of Jan 1, 2021)
ShapshotMining 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

SourceSource
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.

On 27 October 2023, the DOCA was executed by Simon Cathro & Andrew Blundell (in their capacity as voluntary administrators of the Company), Goodsail Holdings Pty Ltd (“Goodsail”) and Tombola Gold Ltd (the Company).

Pursuant to the DOCA, Simon Cathro & Andrew Blundell have been appointed administrators of the DOCA (“Deed Administrators”). The Deed Administrators are responsible for the administration of the DOCA.

Tombola Gold Ltd. remain in suspension through the deed administration process.

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 dipping around 75° on average towards the SSW. This zone pinches out along strike in both directions but is open at depth.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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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
Daily ore mining rate 000
Annual ore mining rate 000
Plant annual capacity 000
Stripping / waste ratio 000
Waste tonnes, LOM 00000
Ore tonnes mined, LOM 000
Total tonnes mined, LOM 00000
* According to 2021 study.

Production Costs

CommodityUnitsAverage
Assumed price Gold USD 0000
* According to 2021 study / presentation.

Project Costs

MetricsUnitsLOM Total
Gross revenue (LOM) $M AUD  ......  Subscribe
Operating margin, %  ......  Subscribe
Operating margin (LOM) $M AUD  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Source Source
Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 8, 2024

Aerial view:

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