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- Mining services agreement signed with Austral Pacific, revolving around mining of historical tailings, stockpiles project at Paris gold mine.
- Strong returns from previous drilling of south-west, north-east tailings dams.
- Toll treating discussions underway to assess the tailings and stockpiled material
Macro Metals’ (ASX:M4M) wholly-owned subsidiary Macro Mining Services has executed a mining services and profit share agreement with Austral Pacific for the potential mining of mineralised gold stockpiles, gold tailings and waste rock stockpiles at the Paris gold mine in Western Australia.
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“Macro first established a relationship with Austral Pacific by successfully completing prior earthworks and rehabilitation works, and progressing to a profit share arrangement is a testament to the level of integrity and collaboration we adopt in our dealings with clients and partners,” MD, Simon Rushton, said.
“Our technical team will immediately get to work consolidating the comprehensive amount of pre-existing technical and commercial information that Austral Pacific previously commissioned in respect of the gold and waste rock materials at the Paris gold mine in order to create a project execution plan that optimises the pathway to near-term cash flow and maximises profitability for both Austral Pacific and Macro’s shareholders.
“This agreement demonstrates our strategic growth into the Western Australian gold sector and complements our expanding mining services business.”
Macro Mining Services has already commenced toll treating discussions with third-party mill owners as well as beginning its feasibility study which will include a work program to systematically assess the tailings and stockpiled material, with a view to determining the optimal pathway to cashflow from the project.
The work program will include RC drilling using photon analysis of larger representative samples, confirmatory metallurgical testing and bulk density analysis to determine tonnages and produce a mineral resource estimate of the gold- bearing materials.
Macro Mining Services has also commenced discussions with potential end users of the construction and civil products that can be produced from processing the waste rock material stockpiled on site.
Once satisfied with the project’s feasibility, Macro will exclusively provide all technical and approval services required for the project, as well as all mining services to monetise the stockpiled materials, which will include reclamation, processing, materials handling and rehabilitation of the stockpiles and tailings.
Macro’s major Paris gold mine is located approximately 100 kilometres southeast of Coolgardie in the Goldfields region.
M4M will open today at 0.6¢. Mkt cap $27.45M.
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