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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

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Open stoping
Production Start...
Mine Life14 years (as of Jan 1, 2018)


Owners

Source: p. 4
CompanyInterestOwnership
EMR Capital Group 50 % Indirect
Golden Energy and Resources Ltd. (GEAR) 50 % Indirect
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.

Contractors

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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 with ........


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
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Processing

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Summary:

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Production:

CommodityUnits202120202019201820172016
Gold koz  ......  Subscription required  ......  Subscription required  ......  Subscription required9092106
All production numbers are expressed as metal in doré.
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Operational Metrics:

Metrics202120202019201820172016
Annual milling capacity  ......  Subscription required  ......  Subscription required2.8 Mt2.8 Mt
Ore tonnes mined  ......  Subscription required  ......  Subscription required290,437 t2.46 Mt2.37 Mt1.31 Mt
Tonnes milled  ......  Subscription required  ......  Subscription required2,699,285 t2.45 Mt2 Mt1.7 Mt
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Reserves at December 31, 2021:

CategoryTonnage CommodityGradeContained Metal
Proven 39 Mt Gold 0.7 g/t 900 koz
Probable 82 Mt Gold 0.7 g/t 1,800 koz
Proven & Probable 121 Mt Gold 0.7 g/t 2,600 koz
Measured 34 Mt Gold 0.7 g/t 875 koz
Indicated 106 Mt Gold 0.8 g/t 2,557 koz
Inferred 46 Mt Gold 0.6 g/t 961 koz
Total Resource 186 Mt Gold 0.7 g/t 4,392 koz

Commodity Production Costs:

Commodity202120202019201820172016
Credits (by-product) Gold  ......  Subscription required -9 / oz  
Cash costs Gold  ......  Subscription required 1,019 / oz  USD 943 / oz  USD 752 / oz  USD
All-in sustaining costs (AISC) Gold  ......  Subscription required  ......  Subscription required
All-in sustaining costs (AISC) Gold  ......  Subscription required† 1,071 / oz†  USD 1,059 / oz†  USD 892 / oz†  USD
† Net of By-Product.
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Financials:

Units2019201820172016
Capital expenditures M AUD 21.2   13.8   6.6  
Revenue M AUD  ......  Subscription required 138.5   158   180.4  
After-tax Income M AUD 9.9   15.2   21.7  
EBITDA M AUD 11.7   24   49.8  



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

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 11, 2022
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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... 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
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