REZ FIRST GOLD POUR EXPECTED AT EAST MENZIES GOLD PROJECT THIS QUARTER
Resources Energy Group (ASX: REZ) announced that its first gold pour is expected at East Menzies gold project this quarter.
On the 19th of June the Company and Lamington Minerals Pty Limited (Lamington) lodged a Mining Proposal with The Western Australian Department of Energy, Mines, Industry Regulation and Safety (DMIRS). The proposal covered a gold vat leach program with ore sourced from the Maranoa strike that was previously identified as an ideal shallow, high-grade gold target to support a vat leach campaign at the East Menzies Project.
It is anticipated DMIRS approval to mine is imminent. The company will initially target 5,000 tonnes of ore with a diluted grade ~4.6gt/ Au. After establishing the economics of the process, REZ will develop a larger scale vat leach campaign to treat additional shallow resources identified at the Maranoa (8,000 Oz) and Goodenough (43,000 Oz) gold deposits.
With the price of gold around $3,500 an ounce it is anticipated significant shareholder upside to the current share price will be achieved.
HIGHLIGHTS
• First gold pour expected this quarter at REZ’s Maranoa, East Menzies Gold Project
• REZ and Lamington Minerals establish local mining presence in Menzies
• Mining Proposal lodged with DMIRS with approval to mine due imminently
• Long-lead items for gold processing at site ordered
• New Chief Geologist to be appointed to conduct project-wide resource analysis to drive exploration targeted to increase gold resource and plan mining operations at other old gold mines on the companies extensive tenement holding in the Menzies area
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