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Independence Group NL
Summary
| Project: | Tropicana | |
|---|---|---|
| Deposit: | Boston Shaker Underground | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-12-2018: Independence Group NL announces a Pre-Feasibility Study report for its Boston Shaker Underground deposit at the Tropicana project. PFS results confirm UG mining at Boston Shaker technically and Financially viable, updated UG resource. Independ | |
| Resources: | (Resource, I+I): 10.6Mt @ 4.2g/t Au for 1.45Moz Au contained at Boston Shaker Underground | |
| CP/QP: | [Resources]: Damon Elder (Internal) | |
| ABSTRACT: | Independence Group NL (IGO or the Company) (ASX:IGO) is pleased to announce that a prefeasibility study into the development of an underground mine beneath the Boston Shaker pits at Tropicana (the Pre-Feasibility Study or PFS) has confirmed that underground mining is technically and financially viable. The PFS is based on the scheduling of underground Mineral Resources with robust economics, fully integrated with the open pit mining plan. The Tropicana joint venture partners, AngloGold Ashanti Australia Ltd (AGAA) and IGO (AGAA 70% and manager, IGO 30%) are now progressing a Feasibility Study (FS). The completion of this FS and a financial commitment to the Boston Shaker underground development is expected in the second half of FY19. IGO’s Managing Director, Peter Bradford, commented: “The Pre-Feasibility Study demonstrates the potential viability of underground mining beneath the Boston Shaker open pits that integrates with the existing open pit life-of-mine. Delivery of Boston Shaker underground will result in an improved grade and gold production profile from Tropicana from FY21. “The Pre-Feasibility Study is one of a number of work programs implemented at Tropicana to add value. The results are extremely encouraging, and we look forward to completing the feasibility study and potentially starting another exciting chapter at Tropicana.” | |
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