Mantle Mining is scheduled to restart production at its underground Morning Star gold mine in Woods Point, Victoria, Australia, which originally closed in 1963 due to a lack of activity.
Earlier this month, the company finalised the transaction to acquire a 95% interest in the mine.
Woods Point is one of the oldest mine sites in Australia, with activity dating back to the 1800s. Much of Woods Point had to be rebuilt after devastating bushfires in 1939.
Mantle Mining managing director Ian Kraemer said that the company has developed a plan to bring Morning Star to a 'ready for production' status.
In addition, Mantle said that plans to recommence production from the company's start-up project Norton Gold Mine are already advanced and mining activities are expected to start later this year.
Kraemer said: "The activities at Morning Star, which will occur concurrently, cover geology, mining and mineral processing and will provide us with the most de-risked pathway to bring this outstanding asset back into production.
"At the same time, strong progress is being made at Norton, which will be the first project into production."
The company is currently undertaking activities that include geological interpretation, underground mining and mineral processing.
Image: Visible free gold. Photo: courtesy of Mantle Mining Corporation Limited.