- Theta Gold Mines (TGM) reports new progress to the Transvaal Gold Mining Estates in South Africa
- The company has taken steps with its underground gold project feasibility study, environmental approvals and preparation for plant construction
- The company began a definitive feasibility study for the underground gold project in September 2021, which is currently sitting at 65 per cent completion
- Meanwhile, the final scoping report for the environmental authorisation permitting process was submitted to the Department of Mineral Resources and Energy (DMRE) on February 3
- Theta Gold Mines has ended the day 2 per cent in the green and trading at 12.8 cents
Theta Gold Mines (TGM) has reported new progress to the Transvaal Gold Mining Estates in South Africa.
The company’s assets include several surface and near-surface high-grade gold projects, with a 74 per cent shareholding in the Transvaal Gold Mining Estates.
The company has taken steps with its underground gold project feasibility study, environmental approvals and preparation for plant construction.
The company began a definitive feasibility study (DFS) for the underground gold project in September 2021, which is currently sitting at 65 per cent completion.
This comes as metallurgical testwork nears completion, and mine designs and geotechnical investigations draw to a close.
Additionally, a plant demolition is in progress ahead of new plant construction.
“The permanent onsite team will continue with sampling and exploration work,” Theta Chairman Bill Guy said.
“The geotechnical investigations were conducted according to plan with encouraging results.”
The chairman went on to say the team is on track to complete the DFS in the second quarter of 2022.
Meanwhile, the final scoping report for the environmental authorisation permitting process for the 83 MR underground project was submitted to the Department of Mineral Resources and Energy (DMRE) on February 3.
The final scoping report will now be assessed by the DMRE and once approved the process will move to the environmental impact assessment phase of the project.
Theta Gold Mines was up 2 per cent, trading at 12.8 cents at market close.