Stonewall Resources Limited (ASX: SWJ) – $0.031 (+3%)
24 Feb 2015
Stonewall Resources Limited (ASX: SWJ) has commenced mining pre-mined residue at the Beta Mine located in northern South Africa.
The Pre-Mined Residue Project is planned to continue during the 2015 expansions to provide low cost, high tonnage production with increased production targets in March 2015 and a major ramp up in June 2015.
The Pre-Mined Residue Project has a conceptual exploration target of between 0.7Moz and 2.4Moz. The potential quantity and grade is conceptual in nature with insufficient exploration to estimate a mineral resource. The company is working on converting the potential mineralisation to JORC 2012 Code compliant mineral resources.
The Pilgrims Rest Plant is now fully commissioned in line with expectations with the company completed its first gold pour (Figure 1). The recovery during the commissioning period was within the targeted parameters and is indicative of an in-situ grade between 1.3g/t gold and 2.1g/t gold. At 20,000 tonnes per month mined and processed, gold production remains unchanged at 643 ounces to 804 ounces of gold per month.
Figure 1. First gold pour from Pre-Mined Residue Project
For further information, visit www.stonewallresources.com
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