Might explain why we finally were allowed to break out of that band...
"Millennium Minerals Limited (Millennium or the Company – ASX: MOY) is pleased to announce that it has awarded the underground mining contract for the new Bartons Underground mine development, part of its 100%-owned Nullagine Gold Project in WA, to highly experienced WAbased mining services group GBF Underground Mining Company. Bartons Underground will be Millennium’s first-ever underground mine at Nullagine, with mine development set to commence later this Quarter. The underground development will access high-grade, free-milling mineralisation located directly beneath the existing Bartons open pit, where the Company has been undertaking an extensive pit cut-back. Works under the Underground Mining Services Contract, which has an initial term of 3 years, include: • Establishment of an underground portal for Bartons; • All decline and level development; • All ore driving; and • All stope production • Two 100m exploration drill drives. The award of the underground mining contract follows the recent announcement of a 22 per cent increase in the Bartons Underground Mineral Resource to 627,000t at 4.9g/t Au for 97,900oz of contained gold, and an interim Ore Reserve of 270,000 tonnes grading 4.5 g/t Au for 39,000oz of contained gold (see ASX Announcement 8 January 2018). It is envisaged that GBF Underground will mobilise to Nullagine later this month, with underground mining set to commence at Bartons in March. Established in 1988 as a locally-owned and operated private underground mining contractor in Western Australia’s Eastern Goldfields, GBF Underground provides a range of services to the mining and industrial sectors. The Group currently employs over 350 skilled underground mining and maintenance personnel, with key existing contracts including Doray Minerals’ Deflector Project, Silver Lake Resources’ Daisy Milano Project and Maxwell’s Gold Mine, Anova Metals Australia’s Second Fortune Mine, and Pantoro’s Nicolsons Project. 1 |
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