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APEX MINERALS NL - ASX: AXM
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Description
During 2007 the Apex assembled a portfolio of gold projects capable of elevating the company to the producer status by early 2009. This was achieved in April 2009 with the commencement of commercial gold production from Wiluna. The projects are located in the Eastern Goldfields of Western Australia.
Production is currently from the Wiluna Mine with multiple underground ore sources being mined there and treated through the 850,000 tonne per annum BIOX plant. During 2010 studies are set to be completed with regard to a potential second area of operation at the Wilsons deposits, located within the Gidgee package about 100km south west of Wiluna. The ore from these operations would be trucked to Wiluna and processed through the Wiluna BIOX plant to supplement the current Wiluna underground feed. Apex also owns the Youanmi project which is currently on care and maintenance about 350km South West of Wiluna.
As Apex moves forward it aims to be a consistent 100,000 to 150,000 ounce gold producer.
The Wiluna Gold Project
Wiluna is a world class goldfield having produced approximately 4 million ounces of gold during its history. It is located 1,000 kilometres northeast of Perth and comprises mining leases covering approximately 50 square kilometers, as well as miscellaneous licences. The operation has access to the Goldfields Gas Pipeline and includes gold resources totalling over 1 million ounces and a 1Mtpa processing facility and a BIOX ® bacterial oxidation plant, along with other established infrastructure.
Previous production and known resources occur in two main fault structures, the East Lode and West Lode, to a depth of 1,000 metres below surface. It is estimated that only 50% of the known extent of these lodes has been tested by systematic exploration drilling, with much of this carried out at very broad drill spacing. Considerable potential therefore exists for the delineation of additional resources with a high probability of converting these to reserves.
Apex is pursuing a vigorous drilling program at Wiluna with the dual aim of infill drilling known resources to the indicated category and drilling around previous known intercepts to delineate additional resources.
The Gidgee Gold Project
The Gidgee Project is located 640 kilometres northeast of Perth and covers 90 kilometres of strike of the Gum Creek greenstone belt. The Project is located close to existing developments and contains a total JORC resource inventory of 651,000 ounces of gold, including the Wilson's refractory gold deposit (Current Resource: 1,457,000t @ 6.9g.t for 325,000oz).
The Project also includes a 600,000tpa gold treatment plant, a 150-man camp, additional high-grade non-refractory resources and has significant exploration upside.
It is expected that underground mining at the rate of 300,000 tpa at ~7g/t will be trucked to Wiluna once re-developed.
The Youanmi Gold Project
The Youanmi Project is located 480kilometres northeast of Perth and covers 40 kilometres of strike of the Youanmi shear zone. It currently contains a total JORC and Nl43-101 compliant resource inventory of 951,000 ounces of gold, including the Youanmi Deeps refractory gold deposit (Indicated and Inferred resource of 2.4 million tonnes @ 8.5 g/t for 658,000 oz of gold) and also has significant exploration upside.
The Project includes a 600,000tpa gold treatment plant, a 270,000tpa sulphide flotation plant (currently not in operation) and a BacTech bacterial oxidation treatment plant capable of treating the gold concentrate.
It is expected that mining at the rate of 150,000 tpa at 11.5g/t will be trucked to Wiluna once re-developed.
Mine For
gold, copper, manganese
Location of operation(s)
Western Australia
Address
Level 1, 10 Ord Street
WEST PERTH, WA, AUSTRALIA
Phone
(08) 6311 5555
Website
Last Updated
26/04/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
