With the first bullion poured at the Granny Smith mine in Western Australia, yet another producing gold mine has been added to the Placer Dome (TSE) fold.
Placer’s 75.8% owned Placer Pacific has a 60% interest in the mine, 435 miles northeast of Perth. The remaining 40% interest is held by Delta Gold.
Minable reserves on the property total 23 million tons grading 0.05 oz. gold per ton. The mining rate will be about three million tons per year over the estimated 8-year life. The company notes that the deposit is open to depth.
Construction of the mine was completed ahead of schedule and under the budgeted A$95.3 million ($91 million).
Be the first to comment on "More gold for Placer"