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Lorena Gold Mine gets green light to proceed

Lorena Gold Mine gets green light to proceed

Gold mining at Lorena given the go ahead.

In a move that could potentially provide opportunities for mining apprenticeships in Queensland, the joint venture for the development of the Lorena Gold Mine by BC Resources NL (BCD) and Malachite Resources Ltd (MAR) has been given the go ahead.

The target of starting production at Lorena before the end of the year looks to be on track, subject to the necessary statutory approvals.

BCD and MAR believe that there are “considerable regional opportunities” once the plant is operating at Lorena.

Both companies anticipate that following the Stage One open cut operations, work may continue beyond the initial 16 month term, based on potential extensions of the current Lorena resource at depth, potential new resources from surrounding prospects, and the toll treatment of third party ores.

BCD and MAR propose to establish an “unincorporated joint venture” to develop and operate the project, transporting the concentrate produced at Lorena to BCD’s processing facility in Beaconsfield, Tasmania for final treatment and production of gold dore.

The manager of the joint venture responsible for all development, operating and management functions is BCD.

The Lorena Gold Project is wholly owned by Malachite, and is located around 15km east of Cloncurry in north west Queensland.

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