Geotechnical Drilling and Geophysics for Starter Theta Pit
Sydney, July 30, 2020 AEST (ABN Newswire) - Theta Gold Mines Limited (
ASX:TGM) (TGMGF:OTCMKTS) is pleased to provide this update on ongoing project development activities at the Starter Theta Project with geotechnical drilling and a geophysical survey now underway.
Highlights:
- Geotechnical drilling and geophysics underway for starter Theta pit
- Design engineering work also advancing
- Mining is defined as an essential service in South Africa - limited impact to on-site works timetable
- Trial mining is planned for late this calendar year
Theta Gold is undertaking a geotechnical assessment of the areas identified for the Waste Rock Dumps (WRDs) and Pollution Control Dams (PCD) within the plan area. Design engineering work for minesite infrastructure is progressing well with all these initiatives scheduled for completion by the end of September.
Theta Gold has not witnessed any impact to its works program as a result of lockdown measures due to COVID-19. Under section 213 of the Labour Relations Act. 1995, mining operations in South Africa are deemed as an essential service i and Theta Gold's operations are thus not affected. The Company's onsite team has completed all necessary paperwork and safety protocols and mine site development activities onsite remain on-track.
Chairman Mr Bill Guy stated, "We are pleased to kick off geotechnical drilling and geophysical survey work. This activity is another crucial step in our ongoing project development works which are progressing to plan and are not delayed.
"We can confirm that all of our team is on site and safely managing this works program. We have an exceptionally busy program underway at the Starter Theta Pit. We are also finalising engineering plans for roads and infrastructure, another critical mine development milestone, and getting prepared for trial mining which is scheduled for late in the year.
"I look forward to keeping shareholders updated on progress as we continue to steadily work our way through these project development initiatives."
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About Theta Gold Mines Limited
Theta Gold Mines Limited (ASX:TGM) (OTCMKTS:TGMGF) is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region. These assets include several surface and near-surface high-grade gold projects which provide cost advantages relative to other gold producers in the region.
Theta Gold Mines core project is located next to the historical gold mining town of Pilgrim's Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road or 95km north of Nelspruit (Capital City of Mpumalanga Province). Following small scale production from 2011-2015, the Company is currently focussing on the construction of a new gold processing plant within its approved footprint at the TGME plant, and for the processing of the Theta Open Pit oxide gold ore. Nearby surface and underground mines and prospects are expected to be further evaluated in the future.
The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources. Theta Gold Mines has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.
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