Golconda Gold has commenced mining at, and delivered its first ore to the processing plant, from Princeton Top, a key step in its development plan to significantly increase production at its Galaxy gold mine in South Africa.
“The commencement of mining at Princeton Top is ahead of schedule and is a testimony to our hard-working team at Galaxy,” said Nick Brodie, CEO of Golconda Gold.
“This is a key step in our development plan to increase mining volumes, to utilise spare capacity in Galaxy’s new larger milling circuit, and to ultimately more than double gold production this year.”
The miner said it used the funds received from the recently closed investment from Empress Royalty Holding Corp. to re-equip the 3.2-kilometer access ramp, install a new compressor, reinstate the historic ore pass to its existing Princeton operations on Level 17, and mobilised a mining fleet to recommence mining.
The Galaxy underground mine is situated 8 km west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province. Princeton Top, one of the mine’s 21 ore bodies, contains an Indicated resource of 912,846 tonnes at 3.04 grams of gold per tonne containing 89,200 ounces of gold.
Source: Golconda Gold