Troy splits Sandstone open
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Tuesday, 12 October, 1999 - 22:00
TROY Resources NL has opened up a new area of the Sandstone greenstone belt with its recent commissioning of the Bulchina gold mine.
The Bulchina discovery was made where very little exploration had been previously undertaken.
The start of mining and milling of gold ore from the 100 per owned Bulchina deposit is the culmination of seven months of intense exploration, development and corporate activity.
A preliminary reserve of 90,000 ounces has been defined at Bulchina mine, which is set to produce around 40,000 ounces of gold per year.
It will complement Troy’s share in the Cornishman mine at Southern Cross.
Troy chairman John Jones said the rapid development of the Bulchina
project is a remarkable achievement for Troy which only took an interest in the prospect in June last year and did not commence exploration and evaluation programmes until January 1999.
Mr Jones summed up the situation by saying: “We are particularly fortunate to have established such a strategically important presence in the Sandstone area where good infrastructure, plant availability, defined profitable reserves and outstanding exploration potential present Troy with a serious company-making opportunity.”
In moving from prospect to new mine, the company has purchased the remaining 20 per cent of Wirraminna Gold NL, signed an agreement with Cambrian Resources NL to purchase its 40 per cent interest in the Mt Klemptz tenements – giving Troy 100 per cent ownership of the Bulchina deposit – and reached agreement with Herald Resources Limited to purchase the Twin Shafts processing plant located four kilometres southeast of Bulchina.
The Bulchina discovery was made where very little exploration had been previously undertaken.
The start of mining and milling of gold ore from the 100 per owned Bulchina deposit is the culmination of seven months of intense exploration, development and corporate activity.
A preliminary reserve of 90,000 ounces has been defined at Bulchina mine, which is set to produce around 40,000 ounces of gold per year.
It will complement Troy’s share in the Cornishman mine at Southern Cross.
Troy chairman John Jones said the rapid development of the Bulchina
project is a remarkable achievement for Troy which only took an interest in the prospect in June last year and did not commence exploration and evaluation programmes until January 1999.
Mr Jones summed up the situation by saying: “We are particularly fortunate to have established such a strategically important presence in the Sandstone area where good infrastructure, plant availability, defined profitable reserves and outstanding exploration potential present Troy with a serious company-making opportunity.”
In moving from prospect to new mine, the company has purchased the remaining 20 per cent of Wirraminna Gold NL, signed an agreement with Cambrian Resources NL to purchase its 40 per cent interest in the Mt Klemptz tenements – giving Troy 100 per cent ownership of the Bulchina deposit – and reached agreement with Herald Resources Limited to purchase the Twin Shafts processing plant located four kilometres southeast of Bulchina.