Water Use License Granted for the Frankfort Mine
Sydney, Nov 2, 2022 AEST (ABN Newswire) - Theta Gold Mines Limited (ASX:TGM) (3LM:FRA) (TGMGF:OTCMKTS) is pleased to advise that the South African Department of Water and Sanitation (DWS) has awarded the first of the two water use licences required for its TGME Underground Gold Mine.
The new Greater TGME Integrated Water Use License (WUL) is issued in accordance with Chapter 4 of the National Water Act, 1998 (Act 36 of 1998) for a period of 12 years. The WUL forms an integral part of TGME Underground Project since it authorises all current water use activities within Mining Right (MR) 83 area.
The approval of the WUL is a result of comprehensive environmental specialist studies conducted with detailed engineering designs that satisfy the extensive regulatory requirements relating to water and waste management in South Africa.
The DWS will inform all interested and affected parties of the issuing of this license. No public participation process is required for this license however any interested and effected parties may still appeal the licence. The Company has, however, in the interest of transparency sent out a notification to inform all of our stakeholders that the license was issued. Our stakeholder engagement forum will going forward be kept updated in terms of compliance monitoring of the license.
Following the granting of this WUL, Theta Gold has now secured all of the regulatory licences required for the Frankfort Mine.
Theta Gold Chairman, Bill Guy, commented: "The full approvals now granted for the Frankfort Mine marks another key step forward for the development of TGME Gold Project.
"Bulk sampling work shall commence on Frankfort mine in the coming weeks with the aim to optimise mining and to maximise ore recovery.
"The full approval of the Frankfort Mine displays full recognition from all related government departments of Theta's effort to becoming a responsible miner in the region.
"I would like to thank our management team and consultants who worked tirelessly on achieving such positive outcomes for the Company.
"The Company shall keep shareholders informed with the final two permits pending on MR83, expected by year-end."
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.
Theta Gold Mines Limited