Regis Resources said it will operate a minimum of three independent underground mining areas within the Duketon gold project with the two newly approved mines
The Garden Well Main and Rosemont Stage 3 underground gold mines in Western Australia approved by Regis Resources. (Credit: Dorothe from Pixabay)
Australian-based gold producer and explorer Regis Resources has approved the development of Garden Well Main and Rosemont Stage 3 underground gold mines in Western Australia in a move to support the company’s underground growth strategy.
The new move is also expected to increase Regis Resources’ underground ore reserves.
According to the Australian gold producer and explorer, it will operate a minimum of three independent underground mining areas within the Duketon gold project with the two newly approved mines.
Besides, Regis Resources aims to discover up to two more underground mining areas as part of its strategic goal of operating four to five underground mines within the Duketon project producing 200koz to 250koz of gold per annum.
The company has also developed a steady state annualised gold production target of between 100koz and 120koz from FY27 from its Garden Well Main and Rosemont Stage 3 underground mines.
Located about 750m to the north of the existing Garden Well South underground mine, the Garden Well Main underground mine will require an estimated pre-production capital of A$75m ($50m) to A$95m ($63m).
The Rosemont Stage 3 mine, which is situated 100m south of current underground operations, entails a pre-production capital of A$45m ($30m) to A$55m ($36.5m).
The development of both underground mines is expected to start soon with the first ore from stopes scheduled to commence in Q1 FY26.
Regis Resources managing director and CEO Jim Beyer said: “The development decision for these value accretive underground mines is another important milestone as Regis progresses on delivering into its underground growth strategy. We continue to demonstrate the growth potential of our underground mines.
“At both Garden Well Main and Rosemont, we have again expanded our underground Reserves. Since we announced our Maiden Resource at Rosemont in 2019, each year, we have continued to enhance the value of the underground by increasing our Reserves.”
In March 2023, Regis Resources received the Independent Planning Commission of New South Wales (IPC)’s final approval for the McPhillamys gold project in Australia.