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Location: 7 km S from Tavua, Fiji
VatukoulaFiji
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Vatukoula Gold Mines Ltd. (formerly Vatukoula Gold Mines plc) holds a 100% interest in VGML.
Zhongrun International Mining Co. Ltd, is a subsidiary of Zhaojin International Gold Co., Ltd. (formerly Zhongrun Resources Investment Corporation) owns 79.5% of VGM's share capital.
This entire structure is under the strategic control of the state-owned giant Shandong Zhaojin Group Co., Ltd. following the acquisition of a 20% stake in Zhongrun by Shandong Zhaojin Ruining Mining (a subsidiary of Shandong Zhaojin Group Co., Ltd.) on January 14, 2025.
Vatukoula is a low-sulphidation epithermal gold vein deposit associated with alkaline type igneous rocks in a volcanic setting, typical of several other major gold mines in the southwest Pacific region including Grasberg, Porgera and Lihir. Post caldera collapsing (a critical genetic feature) was the formation of a north-westerly shear system transecting the caldera, with flatly dipping structures within the peripheral basalts resulting from tectonic resettling. Gold mineralisation is thought to have been set downbetween 3 and 7 million years ago, post-dating magmatism by around 400,000 years. The vast majority of the gold at Vatukoula is located within a two square kilometre fractured block, largely in the form of gold in arsenopyrite. However between 10 and 50% of the gold is in the form of precious metal tellurides. In terms of exploration it is known high-level epithermal mineralisation and alteration occur up to 4km from the Emperor gold mine, in an area which has a demonstrable present day hydraulic connection with the mine. Typically, gold mineralization occurs within steeply dipping dykes and shears, flat-dipping structures (sub 45°), known locally as “flatmakes”, and the intersection of two or more structures, referred to as “shatter zones”. An estimated 7Moz (8.5Moz pre mined resources assuming an 80% extraction rate) of gold has been extracted since mining operations commenced. Gold bearing veins range from 1cm to 1.2m, at times dramatically over relatively short distances. Annualised gold grades have historicallly ranged from 5.5g/t to 9.5g/t Au. Historically, mining continued along the mineralised “flatmake”, absorbing good grade and poor.
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