Agate creek
http://www.lanewayresources.com.au
gold,
Phone:
Address:
Level 9 , 1 Eagle St, Brisbane, QLD, 4000
State: Level 9 , 1 Eagle St, Brisbane, QLD, 4000
Email:
The Agate Creek Gold Mining Project is reaching the feasibility stage ofhow best to economically mine the epithermal lode deposits that are located about 50 kilometres south west of Forsayth and 50 kilometres westof the town of Kidston, in north east Queensland.
The Agate Creek Epithermal Gold Deposit Will be Mined as an Open Pit
The epithermal gold deposits at Agate Creek contains economic concentrations of gold in the form of native gold. The deposits are found near the surface and due to their relative shallow depths they can be easily mined by an open pit method of mining. Epithermal gold deposits were formed under moderate near surface temperatures of between 50 and 300 degrees Celsius. Over time they have been subjected to erosion and as a result they, today, represent a high grade source of gold.Agate Creek Project Owned by Laneway Resources, Formerly Renison Consolidated
The Agate Creek Gold Mining Project is being developed by, Laneway Resources, a mining resource company that formally traded under the name of, Renison Consolidated Mines NL. It is a fast growing Australian based mining company holding both gold and coal mining assets. The company holds a gold resource of more than 400,000 ounces.Agate Creek Gold Project Area Covers Over 1,000 Square Kilometres
The Agate Creek Gold Project covers an area of more than 688 square kilometres with a further two applications that give Laneway Resources a total tenement package in the area covering more than 1,000 square kilometres. Drilling programs recently completed at the Sherwood and Sherwood West Prospects, that are part of the Agate Creek Project, targeted a quite sizeable extension of near surface and high grade outcropping of gold mineralisation that delivered a 5,472 tonnes sample that graded at 11.2 grams of gold a tonne. This sample was processed and poured in January, 2014.The JORC compliant resource at the Sherwood Deposit consists of an indicated and inferred mineral resourcs of 17 million tonnes grading at 0.94 grams a tonne of gold that represents a total of 514,000 ounces of gold at a 0.3 grams a tonne gold cut off grade.
Development Started on the Agate Creek Deposit in 2007
Drilling began at the Agate Creek Gold Project in June 2007, with six holes that were completed a little over a month later. More than 50 holes have now been completed at the Sherwood Prospect. Ongoing drilling is aimed at increasing the gold reserve still further which will serve to extend the life of the mine, as well as considerably improve the proposed mine's annual gold production rate. The targeting of a larger gold resource base will give the project the lowest operating cost possible.The feasibility study made into the Agate Creek Project, reported a low strip ratio, open pit mine at the site, would be capable of producing a minimum of 60,000 ounces of gold annually. Work to date has focused on longer lead time matters such as environmental issues, cultural heritage issues, water supply and electricity.
Laneway Resources are now 100 percent owners of the Agate Creek Gold Project, with a former joint venture partner in the project, Barrick Gold's, interest reverting to net smelter royalty. Laneway Resources have registered with the National Native Title Tribunal, an Indigenous Land UseAgreement, that has been completed with the traditional owners of the landon which the Agate Creek project is sited, the Ewamian People and the Ewamian Aboriginal Corporation.
