RE:Sage.....I just want to return a favour to you..... - Galane Gold Ltd. (GG) has completed a new 2.2 kilometer adit and has accessed the ore body at its Galaxy property in South Africa
- Production can now be ramped up to 43,000 ounces per annum at an operating cash cost of $749 per ounce
- The main Galaxy access drive has intersected the underside of the 55 degree easterly dipping Galaxy mineral zone
- Galane Gold is a producer and explorer with mining operations in Botswana and South Africa
- Galane Gold Ltd. (GG) is up 2.13 per cent, trading at C$0.24 per share at 3:30 pm EST
Galane Gold Ltd. (GG) has accessed the ore body at its Galaxy property in South Africa.
This represents the final step required in the company’s plan to unlock the potential of Galaxy.
The three key components of the Galaxy plan were the recommencement of mining at the Princeton ore body (achieved April 2019), the upgrade of the existing processing plant to 50,000 tonnes per month (achieved December 2020) and completing the adit to the Galaxy ore body.
The completion of the adit removes the constraint to underground production at the mine, that being the capacity of the Woodbine shaft which was limited to 15,000 tonnes per month. Production can now be ramped up to 43,000 ounces per annum at an operating cash cost of $749 per ounce.
Galane Gold CEO, Nick Brodie commented:
“I congratulate the team on what has been a gargantuan effort to help unlock the immense potential of Galaxy. Progressing at a maximum of three meters a blast for 2.2 kilometers can be challenging work, but every member of the team knew what it meant for the overall success of the project and are as committed on the last day as they were on the first day.
It is difficult to underestimate what this means for the Galaxy project as we have now successfully removed all the material constraints to ramping up production. Galane has now completed important steps to more than double its production, and at the same time, reduce its operating costs.”
The main Galaxy access drive has intersected the underside of the 55 degree easterly dipping Galaxy mineral zone.
Initial grades on the 8 meter wide exposure (face and sidewall) are up to 3 g/t, and reflect the highly altered nature of the ore body at this point. The drive is turning into the mineralization and will intersect more silicified and higher levels of sulphides (with wider zones of mineralization and higher grades).
The primary infrastructure will continue to establish the production ramp and access to the first level of stoping. Diamond cover drilling has also started to provide geological and grade control information.
Galane Gold is a gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa.
Galane Gold Ltd. (GG) is up 2.13 per cent, trading at C$0.24 per share at 3:30 pm EST.