Bardoc speeds ahead to golden new year
Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie
4th October 2019
Resources Rising Stars
Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie as it looks to expedite plans to bring it into production (reports The West Australian).
The company yesterday unveiled a 17 per cent increase in its global resource, lifting it to 49.4 million tonnes at 1.9 grams per tonne for 3.02 million ounces of gold.
Bardoc will use the resource and a recently announced $15 million capital raising to underpin a pre-feasibility study for its project due early in the new year.
The company sees about two-thirds of the resource being accessed via an open pit with the balance being reached by an underground mine.
It expects to continue drilling to expand and firm up its resource ahead of a definitive feasibility study scheduled to begin by the middle of next year.
The Bardoc gold project represents the culmination of the company’s mergers with Aphrodite Gold and Excelsior Gold last year, which gave it a 200sqkm landholding in the North Kalgoorlie district.
Bardoc, previously named Spitfire Materials, was founded by John Young and Neil Biddle, a pair of business associates who earned their fortunes as co-founders of lithium miner Pilbara Minerals.
Behind the recent consolidation is a long-term plan for the explorer to become a significant mid-tier gold producer with the ability to treat a variety of different ore types.
The company is targeting a 10-year-plus mine life at Bardoc.
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