Keras finishes toll milling agreement for Australia’s Wycheproof project

1 September 2016 (Last Updated September 1st, 2016 18:30)

Gold mining company Keras Resources has concluded a toll milling agreement with Golden Mile Milling to treat ore from the Wycheproof project in Australia.

Gold mining company Keras Resources has concluded a toll milling agreement with Golden Mile Milling to treat ore from the Wycheproof project in Australia.

The project is located at Lakewood mill on the outskirts of Kalgoorlie.

Keras has signed a 50:50 profit share agreement with Kalgoorlie Mining Associates to mine the Wycheproof gold deposit, located 50km north-east of Kalgoorlie in Western Australian goldfields .

The company has mined Wycheproof to a depth of 8m below surface and the pit extends for a further 12m.

"The milling agreement with Golden Mile is significant in that it allows us to batch process the ore."

Mining is expected to be completed at the end of this month.

Ore from Wycheproof will be processed in two batches at the Lakewood mill, with first haulage set to begin in the next week.

The first mill campaign will begin immediately after that and final mill campaign is slated for completion early next month.

Keras Resources managing director Dave Reeves said: “The milling agreement with Golden Mile is significant in that it allows us to batch process the ore, which provides both detailed grade reconciliation and rapid payment of gold produced.

“Haulage and milling for the Wycheproof pit will commence in September and will be complete in October. Mining is on schedule and on budget.”

The shallow Wycheproof deposit has a resource of 75,600t at 2.87g/t for 6,974oz on existing mining leases. The majority of mineralisation contained within westerly dipping quartz porphyry, which extends from surface to base of drilling.