Tanami Gold managing director Graeme Sloan has left the company, after it announced that the development strategy for its Central Tanami project would be reviewed in light of its drilling success.
The gold miner told shareholders at last month’s annual meeting that the feasibility study for the Central Tanami project was nearing completion, with first production targeted for the third quarter of 2012.
It said today that in view of the increase in mineral resources reported over the past six months and the potential for a further upgrade of the Groundrush resource, the development strategy would be reviewed before a decision was made on mine development.
“The Board has determined that further drilling should be completed at Groundrush given that mineralisation is open in all directions,” the company said in a statement.
“The information gained from such drilling may have a material impact on the mine design.”
The company also intends to undertake drill testing of other deposits and targets, which may also impact on optimal mine development.
The company said Mr Sloan was leaving to pursue personal interests.
Pending the appointment of a new CEO, senir executive staff will run the company with support from deputy chairman Denis Waddell and the Board.
In addition, the company intends to establish a technical advisory committee.
