The Mt Magnet project is located within the north-south striking Meekatharra-Mt Magnet greenstone belt of the Western Australian Murchison Province. The greenstone belt lithologies comprise a succession of steeply dipping and intensely deformed plus interlayered mafic and ultramafic extrusive and intrusive rocks, felsic volcanics and banded iron formations (BIF). Granitic rocks intrude the greenstone belt stratigraphy.

Banded iron formations are the dominant host rocks for gold mineralisation in the project. Gold mineralisation is typically associated the pyrite & pyrrhotite replacement of magnetite in the banded iron. High-grade ore shoots are developed along the intersection of the BIF and a swarm of northeast trending faults, colloquially referred to as Boogardie Breaks.

Significant gold mineralisation is also found in porphyritic felsic units of the Boogardie Basin. Mineralisation generally occurs as a stockwork style of sericite-silica-pyrite veining and alteration within felsic porphyry units intruded into ultramafic flow sequences. Gold mineralisation tends to occur along felsic margins adjacent to the ultramafic contact. The Cosmos area consists of this style.

Mt Magnet is comprised of numerous gold deposits contained within a contiguous tenement holding, located within an 8km radius of the Checkers processing facility. Current and recent mining operations include the Eridanus, Milky Way, Stellar and Vegas open pits and the Hill 60 and Shannon underground mines. Mt Magnet also includes Galaxy Underground which is on a Pre-Feasibility Study, Hill 50 Underground and Morning Star Underground that are on a desktop study.

Galaxy, Eridanus, Morning Star and most Mt Magnet deposits are modelled as open pit deposits. Factors include potential pit depths, minimum mineralisation widths and economic cutoffs based on current contract mining equipment and milling facilities.

UG deposits, including Galaxy, Hill 60, Shannon, Vivien and Penny are modelled with consideration of extraction by conventional sub-level open stoping methods. Galaxy and Eridanus models are generated for bulked low grade model for open pit evaluation and
bulked underground mining scenarios.

Mining at Vegas, Water Tank Hill and Milky Way ware completed in the 2020.

Open pit mining at Penny commenced in the September 2021 quarter, while underground development is scheduled to start in the second half of this financial year. Ore from the project wil be trucked approximately 150km north-west to Mt Magnet for processing.

As part of the Vivien mine life extension, the mining contractor was changed to RUC Cementation Mining. Vivien Underground Extended to June 2021.

Ramelius contracts MACA for the open pits and Byrnecut Australia for the underground mines.

MACA began works on the Mount Magnet Gold Project in 2017 for Ramelius Resources. The project extension consists of open pit mining services including drilling & blasting, and loading and hauling.

The Mt Magnet processing plant is a conventional CIL/CIP gold plant with single stage crushing, primary SAG milling in closed-circuit with a pebble crusher, and secondary closed-circuit ball milling. A centrifugal style gravity gold recovery circuit operates on a portion of the secondary milling product hydrocyclone underflow. Gravity gold concentrate is intensively leached. Cyanide leaching on the classified mill product is undertaken through two large, agitated leach tanks, two large, agitated adsorption tanks and three (of six) older Pachuca style (air agitated) adsorption tanks. Leach kinetics are improved through the addition of oxygen through the first leach tank stages of the circuit. Gold is eluted from the loaded activated carbon, it is then electrowon, calcined and smelted into gold doré as is standard practice.