The gold pour is part of the Stage I trial mining agreement joint venture between Greenstone and FMR Investments
Burbanks Mining Centre consists of the Birthday Gift and Main Lode underground gold mines. (Credit: Greenstone Resources)
Gold developer Greenstone Resources has achieved first gold pour from the Burbanks Mining Centre in Western Australia.
The gold pour is part of the Stage I trial mining agreement joint venture between Greenstone and FMR Investments.
Through the neighbouring Greenfields Mill, the first processing campaign started on 28 December last year. Over a period of nine days, 20,500 tonnes of low-grade development ore was processed to produce a maiden gold pour of 840 ounces.
Greenstone stated that processed grades were in line with expectations.
The joint venture expects to receive the first revenue in the coming weeks, as the recovered doré bullion has been shipped to the Perth Mint for refining and sale.
Greenstone Resources managing director and CEO Chris Hansen said: “This represents a major milestone in Greenstone’s renewed strategy, serving to expedite the path to long-term and sustainable commercial production through the provision of invaluable technical information associated with geology, underground mining and processing.
“Importantly, this initial processing campaign only utilised the low-grade development ore mined during the establishment of underground operations.
“As high-grade underground stoping ramps-up over the coming months, we expect a further 2-3 high-grade milling campaigns.”
The joint venture is expected to conduct additional campaigns over the coming months, processing between 60,000-75,000 tonnes, as high-grade underground ore stoping activities are currently being carried out.
Part of Greenstone’s 100% owned Burbanks gold project, the Burbanks Mining Centre consists of the Birthday Gift and Main Lode underground gold mines.
The Burbanks gold project also includes more than 5km of the highly prospective Burbanks Shear Zone, which is said to be historically the most significant gold producing structure within the Coolgardie Goldfield.
The project is estimated to contain a total Indicated and Inferred Mineral Resource of 1.2 Million tonnes (Mt) at 3.7 g/t Au for 145,700 ounces of gold.