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.

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.

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.

Resource and Energy Group
Pit development with Eastern cutback on left

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.




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.