First ore is now being processed at the new 4.7Mtpa processing plant at KOTH, with first gold expected in the near future
Red 5 Limited (ASX: RED) (Red 5 or the Company) is pleased to advise that first ore has commenced being processed through the 4.7Mtpa processing plant at the 100%-owned 2.4Moz, 16-year life-of-mine King of the Hills (KOTH) Gold Project in Western Australia.
Ore processing at King of the Hills Processing will initially focus on low-grade development ore, sourced primarily from stage 1 of the KOTH open pit and existing stockpiles, while final commissioning of the processing circuit is completed. First gold from the processing plant is expected to be poured in the near future.
Mining is ongoing in both the KOTH open pit and underground mines, with the third open pit fleet now ramping up. Open pit grade control drilling has confirmed the grade and tonnes of ore expected within the initial mining area.
Commemorative 1oz gold ingots
In response to requests from shareholders and stakeholders, the Perth Mint will produce 1oz gold ingots from the first gold pour available for purchase from Red 5 at market prices. Interested parties are requested to express their interest before Monday, 23 May 2022, in purchasing a 1oz ingot by contacting Red 5 at email@example.com.
Red 5 Managing Director, Mark Williams, said: “This is a key milestone for King of the Hills, delivered on time and on budget, and puts us on track for first gold production in the near future. I am very proud of the achievements to date of our construction and operations teams during these unprecedented market conditions. I would also like to acknowledge our major business partners, MACA Interquip and Macmahon, for their contributions and commitment to the success of the KOTH project.
“The King of the Hills processing plant will become a highly efficient processing hub for our operations in the Leonora district, enabling Red 5 to deliver a significant step-change in our business.
“We are delighted to have commenced processing operations, and we look forward to delivering our next key milestone of first gold.”
Source: Company Press Release