GME Resources provides Devon Gold Mine update

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Image credit: GME ASX release

GME Resources has provided an update on the mining operations performed at the company’s 100% owned Devon Gold Mine in Western Australia.

Image credit: GME ASX release
Image credit: GME ASX release

The company, which commenced mining operations at the mine in February this year, announced that approximately 70% of the total tonnes have been mined to date.

GME told the ASCX that four batches of ore equating to 26,300 dry tones (40% of total ore) have been processed at Saracens Carosue Dam project.

According to the company, sale of gold ore from the first batch has been finalised and provisional assay results have been calculated for batch 2, both of which were processed in April 2016.

Adertisement

“Head grade assay results for batches 3 and 4 which were processed in May are pending,” reads the company’s statement.

“The gold price applicable to respective ore sales is determined by the monthly average price as set by the DMP mineral royalties division. The average gold price for the month of April was $1620.46.”

Further, GME announced that mining over the next two weeks will focus on removing the western wall waste to the main pit floor which is at 22 metres below surface.

“Once this is completed, stripping rations reduce significantly and allow the pit to be developed to its maximum depth of 45 metres,” the company said.

“A further 34,600 tonnes of high grade gold ore is planned to be mined over the next six weeks representing 60% of the total contained gold estimated within the final pit design.”