REZ completes second Granny Venn gold processing campaign – Richard Poole
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REZ has completed its second processing campaign at Granny Venn at a solid grade of 2.2g/t, continuing the consistency of grades achieved in the first campaign says Executive Director Richard Poole.
The Richard Poole-led Resources & Energy Group (ASX:REZ) revealed today the second milling campaign was completed in late December, with 24,344 tonnes processed through the Lakewood mill at an unreconciled head grade of 2.2 grams per tonne (g/t).
This yielded a final 1,497oz, which at today’s high Aussie dollar gold price would return roughly $3.8m to REZ and mining partner BM Mining.
“The second milling campaign kicked off in early December and followed the successful maiden campaign, which delivered higher grade and recoveries than expected,”- Executive Director, Richard Poole
The initial campaign processed a total of 24,459 tonnes of Granny Venn ore at a head grade of 2.47g/t for 1,766 ounces of gold at a recovered grade of 2.23g/t.
The completion of the second processing campaign marks the final production from the Granny Venn ramp and north cutbacks.
Sydney-based REZ said development was now focused entirely on production from higher tenor ore located within the Eastern cutback.
The Eastern cutback is the primary resource for the Granny Venn operation, part of the Menzies gold project in Western Australia.
REZ’s progress at Granny Venn means January is shaping up to be a highly productive month for the project, with between 40,000 and 50,000 tonnes of ore expected to be mined.
So far 8,145 tonnes of ore from the Eastern cutback has been stockpiled at site.
REZ is currently in talks with Golden Mile Milling, which owns the Lakewood plant, with a view to locking in a date for a third processing campaign.
An ongoing gold processing campaign is a crucial step for mining companies. The latest one was undertaken by REZ, which recovered 2,289 ounces of gold in November. The company is also due to release a new underground resource soon. The process was carried out at Golden Mile Milling’s Lakewood mill. The mine processed a total of 21,194 tonnes of Penny’s Find ore. The new ore allocation brings the total to 36,000 tonnes.
The “The Golden Line” brand, visual identity, and communication concept created by Farmers of Gold is a good example. This will help the consortium work with a variety of stakeholders and present the project as a unified, well-integrated project. The strong branding elements of the new brand will ensure a better connection with the diverse stakeholders. It will also help increase its credibility as a global player in the gold mining industry.
REZ’s ‘No Dirty Gold’ campaign is a great example of this. The program encourages consumers to buy only ethical gold by purchasing it from responsibly managed mines. The campaign is an extension of the company’s “No Dirty Gold” initiative and encourages mining companies to work more sustainably. As the global movement grows, more retailers join the effort. By choosing to purchase gold from these companies, you’ll be doing your part for the environment, and your wallet.
This article was developed in collaboration with Resources & Energy Group, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.