Latest news with #GibbRiverDiamonds
West Australian
21-05-2025
- Business
- West Australian
Gibb River Diamonds looks to cash in on gold at Edjudina
Gibb River Diamonds has signed a contract mining agreement with Kalgoorlie-Boulder firm BML Ventures to mine an open pit at its Edjudina gold project north-east of Kalgoorlie-Boulder. Gibb River told the Australian Securities Exchange on Wednesday the focus would be on realising the commercial potential of the Neta deposit. The company said Neta had a mineral resource estimate of 378,000 tonnes at 1.9g per tonne for 24,000 ounces of gold, with 110,000t at 2.2g/t for 8000oz in the indicated category. Gibb River said BML would be responsible for all mining-related capital and working capital costs, with Gibb River providing no capital for the project. 'BML's role is to cover all aspects of mining and deliver the mineralised material to one of a number of nearby gold processing plants,' Gibb River said. 'Once project expenses have been paid, with costs being reimbursed from operational cash flow, the net surplus cash will be split 50:50 between (Gibb River) and BML.' The companies are working together to obtain remaining approvals, and aiming to start mining this year — potentially as early as August. Gibb River said processing arrangements still needed to be established with one of the third-party processing plants in the region. 'There are no forward sales locked in for this mining operation and all production will be sold into the spot gold market,' Gibb River said. Gibb River acquired Edjudina in a cash-and-scrip deal in 2020, and at the time said historic production figures for the entire Edjudina field up to 1921 were 39,476oz at 41.0g/t. The company also has the Ellendale diamond project in the Kimberley, and in its most recent quarterly report said it was seeking a strategic partner to progress the project, with the ultimate aim being to re-establish diamond production at the site.
Yahoo
28-03-2025
- Business
- Yahoo
Gibb River Diamonds submits mining proposal for Australia's Edjudina Gold Project
Gibb River Diamonds, an Australian Securities Exchange (ASX)-listed mineral exploration and development company, has submitted a mining proposal to the West Australian Mines Department to advance its Edjudina Gold Project in Western Australia (WA). The proposal is a move towards mining the project's Neta Gold Prospect, which has a JORC resource of 378,000 tonnes (t) at 1.9 grams per tonne (g/t) for 24,000oz of gold and an indicated resource of 110,000t at 2.2g/t for 8,000oz of gold. The Edjudina Gold Project is strategically located 145km north-east of Kalgoorlie in the Eastern Goldfields of WA. It features gold workings over a 13km strike with high-grade veins. A haul road operated by Northern Star Resources intersects the project, providing direct access to the Carosue Dam milling complex 45km from the project. The Neta Prospect is located on the M31/495 granted mining lease at the project. The mining proposal, if granted, will enable the company to commence a mine and haul operation at the Neta Prospect. The company is prioritising toll treatment arrangements with third-party mills to expedite the prospect's development process. Gibb River Diamonds is also engaging with the WTAC Native Title group to schedule a heritage survey at the Edjudina Project. In a press statement, Gibb River Diamonds stated: 'The company is currently communicating with the WTAC Native Title group to finalise a date for a heritage survey to be conducted at the Edjudina Project. It is anticipated that this heritage survey will take place sometime in April 2025. 'This survey will assist in facilitating both mining at the Neta Prospect and the drilling of new exploration targets in the company's recently acquired and highly prospective mining lease M31/481, adjacent to the proposed Neta mining area.' Currently, the company is in discussions with various West Australian groups specialising in mine, haul and toll milling gold operations. In May 2024, Gibb River Diamonds secured three mining leases, advancing the revival of the Ellendale Diamond Project in WA. "Gibb River Diamonds submits mining proposal for Australia's Edjudina Gold Project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
