Laneway Resources is ready to start mining operations at its wholly owned Agate Creek Gold Project located in North Queensland, Australia.
The Queensland Department of Natural Resources, Mines and Energy granted a mining licence to the company permitting development at the mine’s Sherwood deposit, and was the final approval required to begin operations.
The licence, ML100030, covers 689.3ha, which includes the Sherwood and Sherwood West near surface high-grade prospects.
A similar environmental permit, EPSL03068015, was also granted ahead of the commencement of mining operations, which are set to begin next week in line with previously indicated timelines.
Laneway Resources signed a mining and processing agreement to transport and process the ore through Maroon Gold’s wholly owned CIL processing plant.
Recently, Maroon has completed the recommissioning of the 340,000 tonnes per annum Black Jack Plant Site. The plant is currently fully operational.
Laneway Resources appointed Maroon as operator of the site, and has mobilised a mining camp at the site, which is now fully established. Mining fleet mobilisation is currently underway with all necessary equipment to commence operations within the next few days.
Laneway Resources anticipates material positive cash flow this year from the mining activities at the Agate Creek project.
With the expected cash flow, the company will be able to progress its project portfolio including the Ashford Coking Coal project, its New Zealand Gold assets and additional exploration appraisal of the Agate Creek Project area.