Stonewall makes solid progress at TGME gold project
ASX gold explorer, Stonewall ResourcesLimited (ASX:SWJ), this morning updated the market regarding ongoing work atits TGME gold project in South Africa, reporting strong progress.
The current diamond drilling program at the Theta Hill prospect has targeted shallow open-cutresources. This phase of drilling is expected to be completed in late April, witha second diamond rig expected to arrive on site at the start of the month. Afurther resource update on the remaining sections of Theta Hill is also expectedin late May.
Drilling at Theta Hill
SWJ is currently completing an annual fullresource review in conjunction with independent geologists, Minxcon. This processis progressing well, and is expected to be completed by late April. As part ofthe review, SWJ is also assessing other Project Bentley-style open-cutopportunities that have been progressively identified within the its 620 squarekilometre tenements.
SWJ has also been progressing pre-feasibilitystudy activities at the Rietfontein underground mine to ensure that thisimportant high?EUR?grade resource continues to be developed towards production in acomplementary process to the potential open cut activities.
Get the latest articles straight to your inboxkeep me postedThese activities have included extending accessto the mine Level 4 Adit for sampling and bulk metallurgical samples.
Furthermore, onsite legal and environmentalplanning work has been ongoing for the last 18 months, converting SWJ's remainingProspecting Rights (PR) to Mining Rights (MR). All of our SWJ's projects arealready covered by Mining Rights, with the exception of Vaalhoek, which iscovered under this PR to MR conversion process - the conversion process forthis project is proceeding nicely.
SWJ has had several South African engineeringcompanies visit the fully permitted CIL plant and tailings dam to review andrecommend a plant refurbishment program and cost. SWJ expects to have thisreview completed in the second quarter.
On top of this, as part of preparation for plannednear?EUR?term mine development, all environmental compliance requirements are beingregularly monitored and maintained up to date.
SWJ is also continuing to engage with thelocal communities and BEE partners on potential recommencement of operations.
SWJ managing director, Rob Thomson, said: "Wehave been increasing the level of activities at the TGME project in recentmonths, with an acceleration of mine planning work ahead of our aim to declaremaiden open?EUR?cut reserves in 2018."
"With all mine approvals expected to begranted, and detailed costs estimates prepared, we are removing impediments toa quick resumption of gold production for the group."
"In addition, work on gaining undergroundaccess to Rietfontein for the purposes of resource/reserve drilling andmetallurgical sampling is also continuing. This is an exciting time forshareholders of SWJ as we get closer to production, with the high level ofactivity and news flow expected to continue in 2018," Thomson said.
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