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Australia
Golden Mile Project

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 Location:
37 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
  • Processing
  • Production
  • Reserves
  • Costs & Financials
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  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life1.7 years (as of Jan 1, 2021)
Comstock within the Golden Mile project has received Environmental Approvals from the Queensland Government, conditional for the commencement of mining upon the Mining Lease being granted. The Comstock gold mine will be the first of the three Golden Mile Gold Projects to be mined.

28 th July 2021 - QLD Government Grants the Golden Mile Mining Lease ML100201.


Owners

Source: p. 1
CompanyInterestOwnership
Tombola Gold Ltd. 100 % Indirect
On November 18, 2022, Tombola Gold Ltd (ASX:TBA) advanced to 100% ownership of the Golden Mile Project (“Golden Mile”, “Project”) in Cloncurry, Queensland, increasing its ownership from 93%, via successful negotiations with ASX-listed Aeris Resources Ltd (ASX: AIS).

Contractors

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Deposit Type

  • IOCG


Summary:

Exploration to date has identified a combined mineralised strike length in excess of 8,000 m, within the 2 km wide zone. The historical mines are located on the western edge of a large Tier1 IOCG target previously delineated by EXCO in 2012.

The Shamrock
The reef workings consist of 3 vertical shafts over a 150 m long north–south striking mineralized zone and a 150 m shallow open cut. The Shamrock reef consists of calcite, quartz and limonite with some scheelite and tourmaline as well as small amounts of magnetite. The reef has an apparent 80deg. dip to the east.

The Falcon
The reef system consists of lenses of quartz in a soft oxidized formation. The oxidized ore consists of quartz and limonite, with subordinate amounts of calcite, siderite, tourmaline, scheelite, biotite and micaceous hematite. Specimens obtained from the dump show scapolite to be present either in the reef or the adjacent wall rocks. The general strike of the Falcon reef is visibly traceable along abundant workings on surface striking north-south. The reef dips to the West between 75deg. and vertical along strike.


Mining Methods

  • Truck & Shovel / Loader


Summary:

Golden Mile project consists of 8 historical Gold Mines that were in operation as gold producers during the early part of the 1900’s. All 8 mines have gold mineralization striking North South with a total combined strike length of approximately 8 kilometers. The zone of mineralization is across a width of approximately two kilometers. To date, the Company electing to concentrate on only three of the prospects, Comstock, Falcon and Shamrock. All three are in close proximity to each other, allowing the Falcon and the Shamrock to be developed into a single pit operation.

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 Golden Mile deposits are relatively small scale with a peak total material movement of approximately 425 ktpm. The annual processing plant feed requirement is approximately 0.3 Mtpa (25 ktpm).

The extraction sequence is driven largely by the requirement to provide backfill pit volume to curtail the surface disturbance below 10 ha as far as practicab ........


Crushing and Grinding


Processing

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Summary:

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Projected Production:
Pit shell 45 was selected for the basis of the detailed the Comstock pit design process.
Pit shell 50 was selected for the basis of the detailed the Shamrock pit design process.

CommodityUnitsLOM
Gold koz 13
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
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Reserves at March 4, 2021:

CategoryOreTypeTonnage CommodityGradeContained Metal
Indicated Sulphide 44,000 t Gold 3.11 g/t 4,400 oz
Indicated Oxide 20,000 t Gold 3.27 g/t 2,100 oz
Indicated Total 64,000 t Gold 3.16 g/t 6,500 oz
Inferred Sulphide 184,000 t Gold 2.45 g/t 14,500 oz
Inferred Oxide 47,000 t Gold 2.32 g/t 3,500 oz
Inferred Total 231,000 t Gold 2.42 g/t 18,000 oz
Total Resource Sulphide 228,000 t Gold 2.59 g/t 19,000 oz
Total Resource Oxide 66,000 t Gold 2.69 g/t 5,700 oz
Total Resource Total 294,000 t Gold 2.61 g/t 24,700 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 (LOM) $M AUD  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 17, 2021
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Corporate Filings & Presentations:

DocumentYear
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2019
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