Savannah Goldfields (ASX:SVG) is continuing planned maintenance on the Georgetown processing plant in Far North Queensland, on time and within budget, as part of the company’s plan to resume production.
Haulage of the remaining stockpile of crushed gold bearing material from Charters Towers to the Georgetown run-of-mine pad is expected to be completed within a week. Over 750 tonnes has been delivered and stockpiled at Georgetown.
At the Agate Creek Mine, 7,100 tonnes of stockpiled gold bearing material from the run-of-mine stockpiles is well underway. The haulage operator has safely delivered more than 3,000 tonnes to Georgetown since starting this month.
The crushing contractor has begun crushing and building stockpiles of feed for the processing plant.
CEO Brad Sampson says over the last few months, the company has moved rapidly to prepare to resume gold production.
“We are now very close to delivering gold production in line with the aspiration goals we set earlier this year,” Sampson says.
The company plans to mine and process 18,200 tonnes of inferred resource from the Big Reef deposit during the gold production campaign.
This news comes as gold prices continue climbing, reaching US$4,176 ($6,407) per ounce at the time of writing, representing a 0.79% increase from the previous day.
Over the past month, gold’s price has risen 13.12% and is up 56.17% compared to the same time last year, according to Trading Economics.
Savannah Goldfields is an Australian gold-focused company that holds a strategic portfolio of operating assets in North Queensland’s Gulf Savannah.
Write to Aaliyah Rogan at Mining.com.au
Images: Savannah Goldfields
