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Australia
Ravenswood Mine

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

  Address:
Burdekin Falls Dam Road
Ravenswood
Queensland, Australia
4816
Phone  ...  Subscription required
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Processing
  • Gravity separation
  • Agitated tank (VAT) leaching
  • Carbon in pulp (CIP)
  • AARL elution
  • Solvent Extraction & Electrowinning
Mine Life14 years (as of Jan 1, 2018)
Until 2016, ore for the Ravenswood operations was sourced primarily from the Mt Wright underground mine using the unique mining method of sublevel shrinkage with continuous fill, a caving technique successfully pioneered by the Resolute team. In September 2016, Resolute published the Ravenswood Expansion Plan Study. The Ravenswood expansion project (REP) is primarily focused on the closure of Mt Wright and completion of open pit operations at Nolans East over the next two years, followed by a move towards mining of the newer open pit Buck Reef West in 2020 and Sarsfield by 2025.
Latest NewsResolute completes Ravenswood gold mine sale     April 1, 2020


Owners

Source: p. 1
CompanyInterestOwnership
EMR Capital Group 50 % Indirect
Golden Energy and Resources Ltd. (GEAR) 50 % Indirect
Ravenswood Gold Group Pty. Ltd. 100 % Direct
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
  • Vein / narrow vein


Summary:

The Mount Wright deposit is a 200m long, 60m wide vertical breccia pipe characterized by a sequence of structurally controlled hydrothermal breccias and Rhyolite Intrusions within the Ordovician Millaroo Granite. Mineralisation (approx. 305 Ma) occurred subsequent to but essentially coeval with the final Rhyolite brecciation event and is characterized by pyrite-marcasite veining and intense sericite alteration. The pipe itself is weakly mineralised at surface with grades increasing around 500-800m depth. The ore body is a vertically dipping rhyolite breccia pipe hosted within granite and granodiorite. Development of the underground mine began in 2006.

In September 2016, Resolute published the Ravenswood Expansion Plan Study. The Ravenswood expansion project (REP) is primarily focused on the closure of Mt Wright.

The focus of the REP will be the Sarsfield, Nolans and Buck Reef West gold deposits, all of which have been mined previously. The deposits are hosted by diorite intrusives in the Silurian to Devonian aged Jessop’s Creek Tonalite Complex in the Ravenswood Batholith. In the Project area the Tonalite Complex includes units of diorite, quartz diorite and minor gabbro. Deposit types include sulphide quartz shear lodes (Buck Reef West and Sarsfield), narrow high grade veins (Buck Reef West and Sarsfield) and large quartz-sulphide vein stock-works (Sarsfield, Nolans and Nolans East).


Mining Methods

  • Truck & Shovel / Loader


Summary:

Until 2016, ore for the Ravenswood operations was sourced primarily from the Mt Wright underground mine using the unique mining method of sublevel shrinkage with continuous fill, a caving technique successfully pioneered by the Resolute team. In September 2016, Resolute published the Ravenswood Expansion Plan Study. The Ravenswood expansion project (REP) is primarily focused on the closure of Mt Wright and completion of open pit operations at Nolans East over the next two years, followed by a move towards mining of the newer open pit Buck Reef West in 2020 and Sarsfield by 2025.

At Ravenswood, FY19 saw the completion of underground operations at the Mt Wright Underground Mine (Mt Wright), after life-of-mine production of over 1Moz and place Mt Wright on care and maintenance on 31 October 2019.

Mining of the Nolans East open pit commenced in August 2016 and to be completed in September 2018, with processing of stockpiled ore supplemented by existing low-grade stocks to the end of 2019.

The REP comprises mining operations in three separate open pits which include:
· Nolans East: A small pit is being developed at the eastern end of the present Nolans pit which involves a cutback of the eastern and northern walls
· Sarsfield: A cutback of the main Sarsfield open pit
· Buck Reef West: Excavation of new open pit. The area has previously been the subject of small scale underground and open pit mining.

The mining operations required for the development of the open pits comprise two
separate components:

· Dredging of tailings from the Sarsfield pit; and
· Conventional drill and blast, load and haul operations at Nolans East, Sarsfield and Buck Reef West.


Crushing and Grinding


Processing

  • Gravity separation
  • Agitated tank (VAT) leaching
  • Carbon in pulp (CIP)
  • AARL elution
  • Solvent Extraction & Electrowinning

Source: Subscription required

Summary:

The processing plant is currently configured for processing 2.8Mtpa of ore using three-stage crushing, SAG and ball milling and carbon-in pulp processing with a gravity circuit for recovery of free gold.

Processing plant to be upgraded to 3.2Mtpa (currently 2.8Mtpa) by the start of 2020. Expansion of the Nolans processing plant to 5.0Mtpa in FY24.

Test work and historical performance has demonstrated that the ore is amenable to beneficiation through the rejection of a “nominal” 50mm oversize after secondary crushing. Previous owners ran two extensive successful pilot programmes and Resolute has recently replicated this characteristic through the beneficiation of low grade stockpiles on site. At the current gold price and operating costs, it is viable to beneficiate material between 0.3 – 0.7g/t ore from Sarsfield and potentially Nolans East and Buck Reef West.

The Sarsfield, Nolans East and Buck Reef West ore all exhibit similar metallurgical characte ........

Recoveries & Grades:

CommodityParameter2019201820172016
Gold Recovery Rate, %  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Head Grade, g/t 0.691.191.542.05
Subscription required - Subscription is required.

Production:

CommodityUnits20202019201820172016
Gold oz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required92,004105,552
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics2019201820172016
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required1.31 Mt
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required1.7 Mt
Annual milling capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Reserves at December 31, 2019:

CategoryTonnage CommodityGradeContained Metal
Proven 67,350 kt Gold 0.8 g/t 1,710 koz
Probable 48,170 kt Gold 0.7 g/t 1,020 koz
Proven & Probable 115,520 kt Gold 0.7 g/t 2,730 koz
Measured 76,570 kt Gold 0.8 g/t 1,960 koz
Indicated 82,160 kt Gold 0.7 g/t 1,780 koz
Inferred 102,530 kt Gold 0.6 g/t 2,130 koz
Total Resource 261,260 kt Gold 0.7 g/t 5,870 koz

Commodity Production Costs:

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

Financials:

Units2019201820172016
Capital expenditures M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Revenue M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
After-tax Income M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required
EBITDA M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required


Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 8, 2020
....................... Subscription required ....................... Subscription required Subscription required Apr 8, 2020
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2018
................................... Subscription required 2018
................................... Subscription required 2018
Annual Report 2017
Fact Sheet 2017
Annual Report 2016
Feasibility Study Report 2016
Financial Review 2016
Subscription required - Subscription is required.

News:

NewsDate
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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