The company’s better known gold mining arm, Sons of Gwalia N.L., operates a 75,000-oz-per-year open pit mine in western Australia.
Gwalia USA’s main asset is a 100% interest in the Barite Hill gold deposit in South Carolina. The property hosts shallow reserves of 1.25 million tons grading 0.046 oz gold per ton. Metallurgical testing indicates a gold recovery of 80% by heap leaching.
A feasibility study, including mine planning and engineering design, is expected to be completed this month. Production is anticipated for October at an annual rate of 45,000 oz.
The company also is seeking equity interests in other small- to medium-sized gold deposits at an advanced stage of development. Gwalia’s objective is to build annual gold production to a level of 100,000 oz.
Gwalia also has considerable experience with industrial minerals in Australia where its parent company produces spodumene and talc. A feasibility study is also being completed on a graphite deposit.
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