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WIN Metals (ASX: WIN) has taken a significant step towards restarting production at its Radio Gold Project in Western Australia, securing a six-month option to acquire a modular gravity processing plant from Tungsten Mining (ASX:TGN).
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The company says the plant is well-suited to its proposed 120,000 tonnes per annum Radio Gold operation and would form the core of an onsite processing strategy aimed at reducing development costs and accelerating pathways.
The new June option agreement gives WIN Metals the right to acquire the complete plant within six months after making an initial $50,000 payment.
The processing plant includes key gravity recovery infrastructure such as a ball mill, scrubber trommel, screens, spirals, jig and thickener modules. Previous metallurgical test work at Radio demonstrated gravity gold recoveries of up to 87%, supporting the suitability of the proposed processing route.
WIN has engaged Mining Engineering Services Australia to advance engineering studies, cost estimation and development planning for the proposed processing facility, while permitting activities have also commenced to recommission the existing tailings dam and processing plant site.
The company said securing the processing infrastructure allows it to finalise project costings, incorporate the plant into its financial model, investigate financing, and continue permitting work required for a potential restart.
The Radio Gold Project, located about 88 kilometres northwest of Southern Cross, historically produced approximately 71,000 ounces of gold at an average grade of 38 grams per tonne. With a processing solution now identified and development studies progressing, WIN Metals believes Radio is moving closer to becoming a potential low-capital gold production opportunity.
WIN last traded at $0.21/sh today.
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