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- Theta Gold Mines (TGM) completes 85 per cent of its feasibility study, after progressing key work streams at its TGME underground gold project in South Africa
- The company made headway on block models, mine scheduling, geotechnical, ventilation, and engineering studies, and metallurgical test work
- Metallurgical testing was completed across four mines, with a gold recovery rate of 89.5 per cent uncovered from ore samples at Rientfontin
- The company is currently advancing plant design and underground tailing work and expects to complete the feasibility study within the second quarter
- On market close, shares were trading 8 per cent lower at 11.5 cents each
Theta Gold Mines (TGM) has completed 85 per cent of its feasibility study, after progressing key work streams at its TGME underground project in South Africa.
The company made headway on block models, mine scheduling, geotechnical, ventilation, and engineering studies, and metallurgical test work.
Metallurgical testing was completed across four mines, with a gold recovery rate of 89.5 per cent uncovered from ore samples at Rientfontin.
Rock engineering modelling at the Rietfrontin mine, supported the completion of mine design and geotechnical studies.
The company is currently advancing plant design and underground tailing work and expects to complete the feasibility study within the second quarter.
Upon completion of the definitive feasibility study (DFS), Theta plans to progress discussions for capital expenditure funding options.
“With the feasibility now moving into its final stages, we will continue to ramp up initiatives in order remain on track for completion in quarter two,” Chairman Bill Guy said.
On market close, shares were trading 8 per cent lower at 11.5 cents each.
