Revival Gold

Gascoyne Resources: Dalgaranga Construction Update - 3 Months to First Gold

West Perth, WA / February 15, 2018 / JMN Wire / Gascoyne Resources Limited (ASX: GCY) (“Gascoyne” or “Company”) is pleased to provide an update on construction activities at the Company’s Dalgaranga Gold Project, which contains a Measured, Indicated and Inferred Resource of 31.1Mt @ 1.3 g/t for 1,320,000 ounces of contained gold, which is inclusive of Proved and Probable Ore Reserves of 15.3Mt @ 1.3 g/t for 612,000 ounces of gold (see Figures 2 & 3 and Tables 1 & 2 below).

Highlights

  • Construction at Gascoyne’s Dalgaranga Gold Project is advancing well on all fronts and is currently within budget and approximately 1 month ahead of schedule.
  • Process plant construction is progressing on schedule for wet ore commissioning and first gold in May. Key activities include:
    • SAG Mill - Installation well advanced.
    • CIL tanks – completed.
    • Crusher - delivered to site and installation underway.
    • Ore Transfer Bin– construction completed.
    • Structural steel – fabrication complete and erection well advanced.
    • Elution Circuit– installation nearing completion.
    • Gold Room - construction nearing completion.
    • Installation of mechanical equipment – well advanced.
    • Electrical installation – underway.
  • Construction of the Dalgaranga airstrip – nearing completion.
  • Power Station and LNG storage tank installation – underway.
    • Generators are en route to Australia and on schedule for delivery to site in March.
    • LNG storage tank installation underway with first gas on schedule for mid-April
  • Mining Contractor mobilisation and site establishment – underway and on schedule to start mining in early March.

Gascoyne Resources Limited 2 15 2018

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ValOre Metals

ValOre Metals

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