Quarterly Activities - Cashflow Report
Sydney, Jan 29, 2021 AEST (ABN Newswire) - Theta Gold Mines Limited (
ASX:TGM) (TGMGF:OTCMKTS) is pleased to report on its activities for the period from 1 October to 31 December 2020.
HIGHLIGHTS
- Pre-feasibility Study (PFS) for the underground near surface mines (Beta Mine/Frankfort) in Q1 2021
- Declare an underground Maiden Mining Reserve in Q1 2021
- PFS to focus on:
o Maximise recovered Grade with modern mining methods
o Maximise Gold Recovery with modern gold processing
o Maximise Production Rates with modern mine planning
- Metallurgical Results provide confidence for Underground PFS
o Rietfontein - 94 % CIL Gold Recovery average from gold face samples
o Beta - 91% CIL Gold Recovery initial sample
o Vaalhoek - 91 % CIL Gold Recovery initial sample
- Environmental Authorisation for MR83 open-pits approval pending
POST QUARTER Q4 2020
- Appointment of Debt Advisor and strengthens Execution Team
- Investment in Aura, Jaggards & DigitalX-backed Bullion Asset Management
To view the quarterly report, please visit:
https://abnnewswire.net/lnk/Q8NT5DTR
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.
| ||
|
