Kingston resources announces gold production ramp-up at Mineral Hill Mine

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After acquiring Mineral Hill Mine from Quintana for A$14 million in January 2022, Kingston Resources has announced a successful ramp-up of production from the gold tailings operation.

According to the official ASX Announcement, mining and processing rates increased to 700,000 tonnes per annum, with gold recoveries at 87% of target for the month of March to date.

The company said these numbers are set to improve at a steady pace over the next quarter as production progresses deeper into the Resource Storage Facility (TSF).

“I would like to thank the entire Mineral Hill team for a successful transition to Kingston ownership. The focus on-site to deliver safe and efficient production has been outstanding,” said Kingston Managing Director Andrew Corbett.

Adertisement

“During February we saw the results of several steps taken to ensure that throughput increased to targeted rates, and in March, we are seeing an increase in recoveries associated with processing ore from deeper in the tailings facility. During the June quarter, we expect to maintain current throughput rates, while recoveries are expected to continue to climb as we move away from oxide layer on the surface of the TSF.”

The gold and copper mine is located in the Cobar Basin, ~60km from Condobolin in New South Wales.

The acquisition enabled the company to join the ranks of Australian gold producers.

“We look forward to providing a full Mineral Hill update in our March Quarterly report. Ahead of that we anticipate being able to update the market shortly with initial results from the ongoing Mineral Hill exploration program,” said Mr Corbett.

“The current exploration program is aimed at resource development to support the restart of both open pit and underground mining at Mineral Hill To date we have completed five diamond holes at Pearse North and four diamond holes into the SOZ A Lode.”

Image credit: https://kingstonresources.com.au/wp-content/uploads/2022/01/2329266.pdf