Felixburg Mine has a claims holding totalling 197 hectares comprising of 12 blocks of gold and 5 base metal blocks.
Current Gold Project Status
The Mine is carrying underground development and plant expansion after a trial run of the 5 ton per hour plant for six months. The plan is to upgrade the plant to 10 tons per hour processing capacity. The resultant throughput will be 10,400 tons per month processing capacity.
The plant will be used to process dump material blended with underground run off mine ore producing about 4kg of gold bullion per month which will be increased to 15kg of gold bullion per month after six months from plant commissioning. Within one year we expect 100% of throughput to be run of mine (ROM) and production is expected to reach 50kg per month of gold bullion.
The current in-situ resource of more than 794,803 tonnes at 6.46 g/t gold equates to 165,140 ounces giving a current in-situ value of US$264million at US$1600/ounce. The above resources have only been estimated to a vertical depth of 180m. The Help Maker, the Try Me and Wake Up reefs were not included in the above resource estimation.