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Australia
Ravenswood Mine

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 Location:
66 km E from Charters Towers, Queensland, Australia

  Address:
Macrossan Street
Ravenswood
Queensland, Australia
4816
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Open stoping
Processing
  • Gravity separation
  • Smelting
  • Filter press plant
  • Carbon in leach (CIL)
  • AARL elution
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)
Mine Life14 years (as of Jan 1, 2018)
Based on the feasibility study recently completed, Ravenswood is undertaking a development plan that will increase gold production from 60,000 oz pa. to over 200,000 ounces p.a. paving way for it to be the largest gold producer in Queensland.
Latest NewsRavenswood expansion going for Olympic gold     November 15, 2021


Owners

Source: p. 1
CompanyInterestOwnership
EMR Capital Group 50 % Indirect
Golden Energy and Resources Ltd. (GEAR) 50 % Indirect
Resolute Mining has completed the sale of the Ravenswood gold mine in Queensland to a Specialist resources private equity manager, EMR Capital (“EMR”), and Golden Energy and Resources Limited (“GEAR”), (collectively “the EMR GEAR Consortium”) on 31 March 2020.

Golden investments (Australia) II Pte. Ltd., a wholly-owned subsidiary of GEAR entered into a joint venture (the “Joint Venture”) with Raven Gold Nominee Pty Ltd (as trustee on behalf of investors managed or advised by EMR Capital) (together with its affiliates, “EMR”) to establish a joint venture company, Ravenswood Gold Group Pty Ltd (previously known as Mining Gold Group Pty Ltd) (“Topco”), to acquire the Ravenswood gold mine from Carpentaria Gold Pty Ltd (“Carpentaria Gold”) and its parent company, Resolute Mining Limited.

Deposit Type

  • Breccia pipe / Stockwork
  • Footwall hosted
  • Vein / narrow vein


Summary:

Mineralisation occurs in variably orientated tabular sulphide – quartz veins and mineralised shear zones and in numerous vein stock works. Areas of weak veining separate the more strongly stock-worked areas into discrete zones. Individual veins can vary in width from hairline fractures up to one metre locally. Mineralisation extends from the topographic surface and has been confirmed to extend at depth in deep drilling. The mineralisation remains open at depth.

The Jessop Creek Tonalite, an Early to Middle Devonian age unit of the Ravenswood Batholith, hosts the mineralisation. In the project area the Jessop Creel Tonalite can be divided into diorite, quartz diorite and minor gabbro. Boundaries between these units vary from sharp to indistinct and often show complex relationships including stoping xenoliths and irregular dykes. No association between the host lithology and the gold mineralisation has been established other than it is a suitable competent host that allowed the cross cutting sulphide veins to develop.

Buck Reef West / Sarsfield-Nolans Deposit lies within the northern part of the Thomson fold belt which forms part of the Charters Towers province, in a tight cluster of calc-alkaline intrusives of Ordovician to Devonian age known as the Ravenswood Batholiths. Individual intrusive compositions vary from adamellite to diorite: - granite and granodiorite are the most common.

The Buck Reef West / Sarsfield gold deposit is located within and around the junction of three prominent fault systems. At each deposit weathered zone persists to an average of 15 metres below surface. Supergene effects are restricted to a discontinuous horizon within a partially oxidised zone less than 5 metres thick. At least 95% of gold is located within a network of flatly dipping sulphide-quartz veins. Movement on the faults has controlled dilation within the veins, and at least 17 different structural movements and alteration events have reactivated the vein. Veins (20mm to 250mm thick) are typically associated with a phyllic alteration selvedge up to 500mm wide. Vein mineralogy is sulphide dominant with quartz and calcite constituting the major gangue phases. Total sulphide content of the ore is less than 5% with the most common phases being pyrite, pyrrhotite, sphalerite and chalcopyrite. Gold occurs as mostly sub 50 micron free milling grains on fractures and sulphide mineral boundaries.

Geologically, the Buck Reef West and Sarsfield-Nolans resource modelling was divided into several domains based on geological structures/ lithologies and gold distribution. The Buck Reef West domain interpretation comprises a broad, moderately dipping envelope with a locally developed higher grade footwall zone which is cross cut y two sub-vertical north-northeast trending, commonly higher grade zones. They are named; Background, Main envelope – lower grade zone, Main envelope – higher grade footwall zone, Eastern vertical zone and Western vertical zone. The Sarsfield–Nolans area mineralised domains comprise a main moderately northerly dipping envelope representing the general Sarsfield-Nolans trend, and several variably oriented and cross-cutting zones in the Sarsfield area. They are named; East background, Main envelope, Bell zone, Keel zone, Buck Reef trend and West background.

The Sarsfield deposit outcrop over a 900 by 900 metre area with mineral resources defined to a depth of approximately 650 metres below pre-mining land surface. The Nolans deposit extends in an eastward direction from the Sarsfield deposit for 1.7 kilometres with mineral resources estimated to a depth of 330 metres below pre-mining land surface. The Buck Reef deposit is centred 500 metres south west of Sarsfield deposit and outcrops over an area of 500 by 800 with mineral resources defined to a depth of approximately 600 metres.


Mining Methods

  • Truck & Shovel / Loader
  • Open stoping


Summary:

Mining methods for the extraction of gold at Buck Reef West and Sarsfield-Nolans has primarily been by open pit and underground methods. It is anticipated that large scale open pit mining methods will be applied for the remaining resources. Grade control of mining blocks will be based on sampling from high quality reverse circulation drilling spaced at approximately 5mE by 12.5mN with samples taken at 1.5 metre intervals down-hole.

The Buck Reef West and Sarsfield pits were mined historically using routine open pit mining methods with a backhoe type excavator to excavate benches. Beneath the open cut, open stope underground mining methods were used historically dating back to 1870.

Historically, (1870-1918) + recent (1987-2005) production, totaled around 400koz of high grade gold.

A minimum mining width of 30m has been applied. Ramp widths are set at 30m (double lane – 180 t rear dump truck), with narrower single lane ramps (16m wide) for the bottom 40m of the pit design.

Existing geotechnical parameters, used in previous mining and validated through external consultant studies as part of the Feasibility have been applied which include:
Oxide – Single 10m bench height with a batter face angle of 60o and berm width of 8m.
Fresh - Double stacked 10m high benches (20m overall height) with a batter face angle of 80o and 7m berm width.


Crushing and Grinding
Crusher / Mill TypeModelSizePowerQuantity
High Pressure Grinding Rolls (HPGR)
SAG mill
Ball mill

Summary:

The crushing circuit at the Nolans Plant treating Buck Reef West and Sarsfield-Nolans ore will use either two or three stage crushing depending on the gold grade of the material being delivered.

The recent Strategic Review incorporated the use of High Pressure Grinding Rolls (HGPR) to reduce the nominal particle size fed to the milling circuit, thus increasing the nominal plant throughput from 5.0 Mtpa to 6.8 Mtpa.


Processing

  • Gravity separation
  • Smelting
  • Filter press plant
  • Carbon in leach (CIL)
  • AARL elution
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)

Source: Subscription required

Summary:

Gold is recovered using crushing, milling (SAG + ball), gravity circuit (Knelson Concentrator), and a CIL circuit.

Gold is recovered from loaded carbon in a four tonne capacity AARL elution plant. Gold is then deposited on to stainless steel cathodes in an electrolytic circuit.

Gold will be poured into dore bars, containing approximately 80% gold and 20% silver. The dore bars are sent to the Perth Mint for refining.

Processing of the tailings will comprise thickening and filtering to provide a residue or filter cake which can be dry stacked. The tailings will be placed with conventional earth moving equipment to shape the final landform and gradient with surface compaction completed with smooth drum rollers.

Recoveries & Grades:

CommodityParameter20202019201820172016
Gold Head Grade, g/t  ......  Subscription required  ......  Subscription required1.191.542.05
Gold Recovery Rate, %  ......  Subscription required  ......  Subscription required94.493.194.3

Production:
Production for 2020 is reported for the period 1 Apr 2020 to 31 Dec 2020.

CommodityUnits20202019201820172016
Gold koz  ......  Subscription required  ......  Subscription required9092106
All production numbers are expressed as metal in doré.
Subscription required - Subscription is required.

Operational Metrics:

Metrics20202019201820172016
Annual processing capacity  ......  Subscription required
Ore tonnes mined  ......  Subscription required290,437 t2.46 Mt2.37 Mt1.31 Mt
Tonnes milled  ......  Subscription required2,699,285 t2.45 Mt2 Mt1.7 Mt
Annual milling capacity  ......  Subscription required2.8 Mt2.8 Mt
Subscription required - Subscription is required.

Reserves at December 31, 2020:
Mineral Reserves and Resources are reported at cut-off grade of 0.3 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Proven 34 Mt Gold 0.7 g/t 700 koz
Probable 81 Mt Gold 0.7 g/t 1,900 koz
Proven & Probable 115 Mt Gold 0.7 g/t 2,600 koz
Measured 32.2 Mt Gold 0.7 g/t 740 koz
Indicated 96.5 Mt Gold 0.8 g/t 2,346 koz
Inferred 48.6 Mt Gold 0.6 g/t 876 koz
Total Resource 177.3 Mt Gold 0.7 g/t 3,961 koz

Commodity Production Costs:

CommodityUnits20202019201820172016
Credits (by-product) Gold AUD  ......  Subscription required -9 / oz
Cash costs Gold USD  ......  Subscription required 1,019 / oz 943 / oz 752 / oz
All-in sustaining costs (AISC) Gold AUD  ......  Subscription required
All-in sustaining costs (AISC) Gold USD  ......  Subscription required† 1,071 / oz† 1,059 / oz† 892 / oz†
† Net of By-Product.
Subscription required - Subscription is required.

Financials:

Units20202019201820172016
Capital expenditures M AUD 21.2   13.8   6.6  
Revenue M AUD  ......  Subscription required138.5   158   180.4  
Operating Income M AUD  ......  Subscription required
After-tax Income M AUD  ......  Subscription required9.9   15.2   21.7  
EBITDA M AUD 11.7   24   49.8  
Subscription required - Subscription is required


Proposed Heavy Mobile Equipment as of July 22, 2019:
HME TypeSize
Excavator
....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 16, 2021
....................... Subscription required ....................... Subscription required Subscription required Jun 16, 2021
....................... Subscription required ....................... Subscription required Subscription required Jun 16, 2021
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Report 2018
Press Release 2018
Year-end Mineral Reserves 2018
Annual Report 2017
Fact Sheet 2017
Annual Report 2016
Feasibility Study Report 2016
Financial Review 2016
Subscription required - Subscription is required.

News:

NewsDate
Ravenswood expansion going for Olympic gold November 15, 2021
Resolute completes Ravenswood gold mine sale April 1, 2020
Resolute seals $300m Ravenswood sale to EMR Capital January 15, 2020
Resolute flags Ravenswood gold mine sale January 14, 2020
Resolute launches Ravenswood expansion project August 29, 2019
Resolute expands growth plans for Ravenswood July 22, 2019
Resolute Mining gains ground at Ravenswood gold mine May 14, 2019
Resolute adds three years to Ravenswood mine life July 11, 2018

Aerial view:

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