Redcastle Resources (ASX:RC1) is set to expand the Queen Alexandra pit within its namesake project in Western Australia with the granting of mining lease M39/1171.
Mining lease M39/1171 was granted by the Western Australian Department of Mines, Petroleum and Exploration, effective as of 1 September.
The mining lease sits immediately south of field operations in M39/318 at the Redcastle Gold Project.
Subject to approval of an amendment to the current mining development and closure proposal, the granting of this mining lease will allow for the enlargement of the current Queen Alexandra pit.
Chairman Ray Shaw says the company is pleased to add this mining tenement to its portfolio, which it believes will provide a “significant exploration corridor for gold mineralisation”.
“The recently announced native title and mining agreement with WTAC [Wangkatja Tjungula Aboriginal Corporation] combined with the granting of M39/1171, sets Redcastle on a course to fully optimise its Redcastle Gold Project upon resumption of mining operations,” Shaw says.
“Our joint venture team continues to complete tasks to move the company forward by reprioritising exploration plans across the portfolio and evaluating potential alternative milling options seeking the right combination of capacity, cost, and timing to secure an appropriate processing solution.”
The company is in a joint venture with BML Ventures, which operates the Queen Alexandra pit. BML is currently amending the approved mining development and closure proposal for submission to the Department of Mines, Petroleum and Exploration.
The RB JV will review a plan for additional grade-control drilling within the southern Queen Alexandra deposit to confirm local grade distribution and support detailed mine planning.
Write to Maddison Elliott at Mining.com.au
Images: Redcastle Resources
