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MEI Online: Commodities: Metallic Ores: Gold: Latest News: May 2nd 2006

 
 

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:: Mineral Processing Commences Ahead of Schedule at West Rand Gold Project

Mintails Limited has announced that it has commenced the mining and treatment of its extensive gold tailings project located in the West Rand Gold Region of the Witwatersrand Basin approximately 60 kms west of Johannesburg, South Africa.

Mintailsí Chief Executive Officer, Dick van der Walt commented "We are delighted with the excellent progress the company has achieved to date. After completing the initial $12 million capital raising on 23 December, Mintails management, employees and consultants have worked to ensure the company met the expectations contained in its recent prospectus. Mintails looks forward to a first full month of gold production in May."

Mintails has the rights to treat 305 million tonnes of gold tailing materials which includes measured, indicated and inferred resources of 145.5 million tonnes with an average grade of 0.42 gpt Au containing an estimated 1.9 million ounces of gold in accordance with JORC Code. Further surveying and drilling is to be undertaken and this is designed to bring all existing resources to a 'measured' category.

 

 

   

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